James Galeese Sells 54,575 Shares of LSI Industries (NASDAQ:LYTS) Stock

LSI Industries Inc. (NASDAQ:LYTS) CFO James Galeese sold 54,575 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $23.29, for a total transaction of $1,271,051.75. Following the completion of the sale, the chief financial officer directly owned 173,288 shares of the company’s stock, valued at $4,035,877.52. This trade represents a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

LSI Industries Price Performance

NASDAQ LYTS opened at $22.89 on Friday. The company has a 50 day simple moving average of $19.72 and a 200-day simple moving average of $17.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.08 and a quick ratio of 1.25. The firm has a market capitalization of $684.89 million, a price-to-earnings ratio of 28.98 and a beta of 0.27. LSI Industries Inc. has a 52-week low of $13.77 and a 52-week high of $25.50.

LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings results on Thursday, August 21st. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $155.07 million during the quarter, compared to analyst estimates of $138.89 million. LSI Industries had a net margin of 4.25% and a return on equity of 11.25%. Equities research analysts predict that LSI Industries Inc. will post 0.7 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, September 2nd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. LSI Industries’s dividend payout ratio (DPR) is presently 25.32%.

Hedge Funds Weigh In On LSI Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its holdings in LSI Industries by 11.8% during the second quarter. Osaic Holdings Inc. now owns 6,007 shares of the construction company’s stock valued at $102,000 after purchasing an additional 635 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in LSI Industries by 2.9% during the first quarter. PNC Financial Services Group Inc. now owns 22,856 shares of the construction company’s stock valued at $389,000 after purchasing an additional 643 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in LSI Industries by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,052 shares of the construction company’s stock valued at $312,000 after purchasing an additional 684 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in LSI Industries by 22.0% during the second quarter. BNP Paribas Financial Markets now owns 4,077 shares of the construction company’s stock valued at $69,000 after purchasing an additional 736 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in LSI Industries by 2.1% during the first quarter. Rhumbline Advisers now owns 41,378 shares of the construction company’s stock valued at $703,000 after purchasing an additional 858 shares during the last quarter. Institutional investors and hedge funds own 73.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Craig Hallum reaffirmed a “buy” rating and set a $28.00 price objective on shares of LSI Industries in a research report on Friday, August 22nd. Wall Street Zen raised shares of LSI Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 24th. Finally, Canaccord Genuity Group raised their price objective on shares of LSI Industries from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 25th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, LSI Industries currently has a consensus rating of “Buy” and an average price target of $27.67.

About LSI Industries

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.