JPMorgan Chase & Co. reduced its holdings in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 61.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,561 shares of the construction company's stock after selling 45,840 shares during the quarter. JPMorgan Chase & Co. owned 0.10% of LSI Industries worth $461,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Systematic Financial Management LP increased its holdings in shares of LSI Industries by 7.1% in the third quarter. Systematic Financial Management LP now owns 2,439,120 shares of the construction company's stock valued at $39,392,000 after buying an additional 162,160 shares in the last quarter. State Street Corp raised its position in shares of LSI Industries by 1.1% during the third quarter. State Street Corp now owns 574,275 shares of the construction company's stock worth $9,275,000 after purchasing an additional 6,098 shares during the period. Essex Investment Management Co. LLC lifted its holdings in shares of LSI Industries by 0.4% during the third quarter. Essex Investment Management Co. LLC now owns 306,397 shares of the construction company's stock valued at $4,948,000 after purchasing an additional 1,111 shares during the last quarter. Phocas Financial Corp. acquired a new position in shares of LSI Industries in the 3rd quarter valued at $3,682,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in LSI Industries by 0.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,171 shares of the construction company's stock worth $2,345,000 after purchasing an additional 494 shares in the last quarter. 73.91% of the stock is owned by institutional investors and hedge funds.
LSI Industries Stock Down 0.3 %
NASDAQ:LYTS traded down $0.07 during trading hours on Friday, hitting $21.07. 142,376 shares of the company's stock traded hands, compared to its average volume of 171,526. LSI Industries Inc. has a twelve month low of $13.35 and a twelve month high of $25.50. The firm has a market cap of $628.73 million, a P/E ratio of 27.36 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 2.08. The stock's fifty day moving average price is $19.98 and its two-hundred day moving average price is $17.64.
LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The construction company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). LSI Industries had a return on equity of 11.42% and a net margin of 4.47%. On average, research analysts expect that LSI Industries Inc. will post 0.7 earnings per share for the current fiscal year.
LSI Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, February 3rd. LSI Industries's dividend payout ratio (DPR) is currently 25.97%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of LSI Industries from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, January 24th. HC Wainwright upped their price target on shares of LSI Industries from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, January 24th.
Get Our Latest Analysis on LSI Industries
LSI Industries Profile
(
Free Report)
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.
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