Spire Wealth Management Buys Shares of 75,139 LSI Industries Inc. (NASDAQ:LYTS)

Spire Wealth Management purchased a new stake in shares of LSI Industries Inc. (NASDAQ:LYTS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 75,139 shares of the construction company’s stock, valued at approximately $944,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LYTS. Tower Research Capital LLC TRC acquired a new position in LSI Industries during the 1st quarter worth about $31,000. Macquarie Group Ltd. acquired a new stake in shares of LSI Industries during the first quarter worth about $33,000. Lazard Asset Management LLC boosted its stake in shares of LSI Industries by 112.8% in the fourth quarter. Lazard Asset Management LLC now owns 6,364 shares of the construction company’s stock valued at $77,000 after purchasing an additional 3,373 shares during the period. Algert Global LLC purchased a new position in shares of LSI Industries in the third quarter valued at approximately $90,000. Finally, Jane Street Group LLC acquired a new position in shares of LSI Industries in the first quarter valued at approximately $131,000. 70.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LSI Industries

In other news, CFO James E. Galeese sold 7,155 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $15.72, for a total value of $112,476.60. Following the completion of the transaction, the chief financial officer now owns 142,134 shares in the company, valued at $2,234,346.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO James Anthony Clark sold 20,284 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $15.72, for a total transaction of $318,864.48. Following the sale, the chief executive officer now owns 144,947 shares of the company’s stock, valued at $2,278,566.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James E. Galeese sold 7,155 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $15.72, for a total transaction of $112,476.60. Following the completion of the transaction, the chief financial officer now directly owns 142,134 shares of the company’s stock, valued at approximately $2,234,346.48. The disclosure for this sale can be found here. Insiders have sold a total of 60,020 shares of company stock valued at $949,419 in the last ninety days. 7.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LYTS. StockNews.com assumed coverage on LSI Industries in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Craig Hallum lifted their price objective on LSI Industries from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of LSI Industries in a research report on Friday, August 18th.

LSI Industries Stock Performance

Shares of LYTS stock opened at $12.81 on Thursday. LSI Industries Inc. has a 52-week low of $10.15 and a 52-week high of $16.97. The stock’s 50-day moving average price is $14.93 and its 200 day moving average price is $13.64. The company has a quick ratio of 1.17, a current ratio of 1.98 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $370.47 million, a PE ratio of 13.77 and a beta of 1.05.

LSI Industries (NASDAQ:LYTS) last issued its earnings results on Thursday, August 17th. The construction company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. The business had revenue of $123.64 million for the quarter, compared to the consensus estimate of $119.42 million. LSI Industries had a net margin of 5.58% and a return on equity of 15.89%. During the same quarter in the previous year, the firm earned $0.21 earnings per share. As a group, equities research analysts forecast that LSI Industries Inc. will post 0.54 EPS for the current year.

LSI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Monday, November 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, November 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.56%. LSI Industries’s payout ratio is currently 21.51%.

LSI Industries Company Profile

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.