Allspring Global Investments Holdings LLC Increases Stock Position in LSI Industries Inc. (NASDAQ:LYTS)

Allspring Global Investments Holdings LLC grew its stake in LSI Industries Inc. (NASDAQ:LYTS) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,836 shares of the construction company’s stock after buying an additional 1,876 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of LSI Industries worth $910,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Savant Capital LLC acquired a new stake in LSI Industries during the fourth quarter valued at $368,000. Bleakley Financial Group LLC raised its stake in LSI Industries by 228.8% during the fourth quarter. Bleakley Financial Group LLC now owns 34,628 shares of the construction company’s stock worth $672,000 after purchasing an additional 24,096 shares during the period. Catalina Capital Group LLC purchased a new position in LSI Industries during the fourth quarter worth about $253,000. SG Americas Securities LLC increased its position in shares of LSI Industries by 24.1% during the fourth quarter. SG Americas Securities LLC now owns 14,086 shares of the construction company’s stock valued at $274,000 after acquiring an additional 2,731 shares during the last quarter. Finally, Annex Advisory Services LLC increased its position in shares of LSI Industries by 28.7% during the fourth quarter. Annex Advisory Services LLC now owns 136,747 shares of the construction company’s stock valued at $2,656,000 after acquiring an additional 30,464 shares during the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Performance

Shares of LYTS opened at $19.29 on Monday. The company has a 50-day simple moving average of $20.08 and a 200-day simple moving average of $18.18. The company has a quick ratio of 1.20, a current ratio of 2.08 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $577.15 million, a PE ratio of 25.05 and a beta of 0.94. LSI Industries Inc. has a 52-week low of $13.63 and a 52-week high of $25.50.

LSI Industries (NASDAQ:LYTS) last posted its 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 predict 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 was paid on Tuesday, February 11th. Investors of record on Monday, February 3rd were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.20 annualized dividend and a dividend yield of 1.04%. LSI Industries’s dividend payout ratio is presently 25.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LYTS. HC Wainwright lifted their price objective 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 raised their target price on shares of LSI Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 24th.

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.