Diamond Hill Capital Management LLC Investment Advisor Buys New Holdings in LSI Industries Inc. $LYTS

Diamond Hill Capital Management LLC Investment Advisor bought a new position in LSI Industries Inc. (NASDAQ:LYTS) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 200,317 shares of the construction company’s stock, valued at approximately $5,324,000.

A number of other institutional investors have also recently bought and sold shares of LYTS. Northwestern Mutual Wealth Management Co. raised its stake in shares of LSI Industries by 205.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company’s stock valued at $28,000 after buying an additional 1,031 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of LSI Industries by 57.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock worth $31,000 after acquiring an additional 625 shares during the period. Strs Ohio acquired a new stake in shares of LSI Industries during the 1st quarter valued at about $34,000. New York State Teachers Retirement System acquired a new stake in shares of LSI Industries during the 4th quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC bought a new stake in LSI Industries in the second quarter valued at about $47,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

Insider Activity

In other news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total value of $3,317,479.62. Following the completion of the transaction, the chief financial officer owned 173,288 shares in the company, valued at approximately $4,209,165.52. The trade was a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wilfred T. Ogara sold 10,369 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $24.09, for a total value of $249,789.21. Following the completion of the transaction, the director directly owned 103,686 shares in the company, valued at $2,497,795.74. The trade was a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 256,173 shares of company stock worth $6,220,368. Insiders own 7.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LYTS. Oppenheimer began coverage on shares of LSI Industries in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $30.00 price target for the company. Weiss Ratings upgraded LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen cut LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.75.

LSI Industries Trading Down 0.4%

Shares of LYTS stock opened at $24.75 on Tuesday. The company has a market capitalization of $908.57 million, a P/E ratio of 33.00 and a beta of 0.56. LSI Industries Inc. has a 12-month low of $17.20 and a 12-month high of $27.36. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $24.82 and a 200 day moving average price of $22.69.

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.