Legal & General Group Plc Cuts Position in LSI Industries Inc. (NASDAQ:LYTS)

Legal & General Group Plc reduced its position in shares of LSI Industries Inc. (NASDAQ:LYTS) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,350 shares of the construction company’s stock after selling 2,428 shares during the period. Legal & General Group Plc’s holdings in LSI Industries were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of LYTS. Russell Investments Group Ltd. boosted its holdings in LSI Industries by 894.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,099 shares of the construction company’s stock valued at $41,000 after acquiring an additional 1,888 shares during the period. Fortitude Family Office LLC boosted its stake in shares of LSI Industries by 1,559.9% in the fourth quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company’s stock valued at $62,000 after purchasing an additional 2,995 shares during the period. Quantbot Technologies LP boosted its stake in shares of LSI Industries by 777.3% in the fourth quarter. Quantbot Technologies LP now owns 3,632 shares of the construction company’s stock valued at $71,000 after purchasing an additional 3,218 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of LSI Industries in the fourth quarter valued at approximately $82,000. Finally, Catalina Capital Group LLC purchased a new stake in LSI Industries during the 4th quarter worth approximately $253,000. 73.91% of the stock is owned by institutional investors and hedge funds.

LSI Industries Price Performance

LSI Industries stock opened at $14.65 on Tuesday. The stock has a market cap of $438.34 million, a P/E ratio of 19.03 and a beta of 0.70. The company has a fifty day simple moving average of $16.94 and a 200-day simple moving average of $18.59. The company has a current ratio of 2.08, a quick ratio of 1.20 and a debt-to-equity ratio of 0.16. LSI Industries Inc. has a 12-month low of $13.63 and a 12-month high of $25.50.

LSI Industries (NASDAQ:LYTS) last released its quarterly earnings data on Thursday, April 24th. The construction company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. LSI Industries had a return on equity of 11.25% and a net margin of 4.47%. The business had revenue of $132.48 million during the quarter, compared to analysts’ expectations of $129.72 million. Equities analysts expect that LSI Industries Inc. will post 0.7 EPS for the current fiscal year.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Monday, May 5th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, May 5th. This represents a $0.20 annualized dividend and a dividend yield of 1.37%. LSI Industries’s dividend payout ratio is presently 27.78%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of LSI Industries in a research note on Friday. Canaccord Genuity Group lowered their target price on LSI Industries from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday. Finally, StockNews.com raised LSI Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 22nd.

LSI Industries 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.