Legato Capital Management LLC Increases Stock Position in LSI Industries Inc. $LYTS

Legato Capital Management LLC boosted its stake in shares of LSI Industries Inc. (NASDAQ:LYTS) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,103 shares of the construction company’s stock after buying an additional 31,429 shares during the quarter. LSI Industries accounts for about 0.6% of Legato Capital Management LLC’s holdings, making the stock its 17th biggest holding. Legato Capital Management LLC’s holdings in LSI Industries were worth $7,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of LYTS. Strs Ohio purchased a new position in LSI Industries during the first quarter worth about $34,000. New York State Teachers Retirement System purchased a new position in LSI Industries during the fourth quarter worth about $36,000. State of Alaska Department of Revenue purchased a new position in LSI Industries during the third quarter worth about $38,000. EverSource Wealth Advisors LLC purchased a new position in LSI Industries during the second quarter worth about $47,000. Finally, Quarry LP purchased a new position in LSI Industries during the third quarter worth about $55,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LYTS shares. Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Canaccord Genuity Group increased their price target on shares of LSI Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of LSI Industries in a research report on Friday, May 8th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of LSI Industries in a research report on Tuesday, January 27th. Finally, Wall Street Zen cut shares of LSI Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

LSI Industries Stock Up 3.0%

Shares of NASDAQ:LYTS opened at $23.26 on Friday. The firm’s 50 day moving average price is $20.97 and its 200 day moving average price is $20.37. The stock has a market cap of $853.87 million, a price-to-earnings ratio of 31.01 and a beta of 0.54. LSI Industries Inc. has a fifty-two week low of $15.31 and a fifty-two week high of $24.99. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58.

LSI Industries (NASDAQ:LYTS) last issued its earnings results on Thursday, April 23rd. The construction company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.34). The firm had revenue of $150.53 million during the quarter, compared to analyst estimates of $163.53 million. LSI Industries had a net margin of 3.91% and a return on equity of 8.90%. As a group, equities research analysts predict that LSI Industries Inc. will post 0.81 earnings per share for the current fiscal year.

LSI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Monday, May 4th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.20 annualized dividend and a yield of 0.9%. LSI Industries’s dividend payout ratio (DPR) is 26.67%.

About LSI Industries

LSI Industries, Inc (NASDAQ: LYTS) is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.