First Eagle Investment Management LLC Lowers Position in LSI Industries Inc. (NASDAQ:LYTS)

First Eagle Investment Management LLC cut its stake in LSI Industries Inc. (NASDAQ:LYTS) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 403,922 shares of the construction company’s stock after selling 42,500 shares during the period. First Eagle Investment Management LLC’s holdings in LSI Industries were worth $7,844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. HBK Sorce Advisory LLC lifted its holdings in LSI Industries by 20.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 27,657 shares of the construction company’s stock worth $537,000 after buying an additional 4,716 shares during the period. Swiss National Bank lifted its holdings in LSI Industries by 2.5% in the fourth quarter. Swiss National Bank now owns 52,700 shares of the construction company’s stock worth $1,023,000 after buying an additional 1,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in LSI Industries by 6.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 154,689 shares of the construction company’s stock worth $3,004,000 after buying an additional 9,518 shares during the period. AlphaQuest LLC purchased a new stake in LSI Industries in the fourth quarter worth about $275,000. Finally, Raymond James Financial Inc. purchased a new stake in LSI Industries in the fourth quarter worth about $362,000. 73.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LYTS. HC Wainwright lifted their target price on shares of LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, January 24th. Canaccord Genuity Group lifted their target price on shares of LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday, January 24th.

LSI Industries Price Performance

LYTS stock opened at $17.32 on Friday. The firm has a 50 day moving average price of $19.62 and a 200-day moving average price of $18.44. LSI Industries Inc. has a 52-week low of $13.63 and a 52-week high of $25.50. The firm has a market capitalization of $518.23 million, a price-to-earnings ratio of 22.49 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.20 and a current ratio of 2.08.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings results on Thursday, January 23rd. The construction company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). LSI Industries had a net margin of 4.47% and a return on equity of 11.25%. Equities research analysts forecast that LSI Industries Inc. will post 0.7 EPS for the current fiscal year.

LSI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Monday, February 3rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Monday, February 3rd. LSI Industries’s dividend payout ratio (DPR) is currently 25.97%.

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.