First Eagle Investment Management LLC Increases Stake in LSI Industries Inc. (NASDAQ:LYTS)

First Eagle Investment Management LLC grew its holdings in shares of LSI Industries Inc. (NASDAQ:LYTS) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 446,722 shares of the construction company’s stock after purchasing an additional 50,624 shares during the quarter. First Eagle Investment Management LLC owned approximately 1.53% of LSI Industries worth $6,464,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in LSI Industries during the second quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of LSI Industries by 87.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,740 shares of the construction company’s stock worth $126,000 after purchasing an additional 4,065 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of LSI Industries in the first quarter valued at approximately $167,000. Principal Financial Group Inc. purchased a new position in LSI Industries during the first quarter worth approximately $203,000. Finally, Simplicity Wealth LLC acquired a new position in LSI Industries during the second quarter worth $250,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Performance

NASDAQ:LYTS opened at $16.04 on Friday. The company’s 50-day moving average is $15.42 and its two-hundred day moving average is $15.09. The firm has a market capitalization of $467.25 million, a price-to-earnings ratio of 17.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.17 and a quick ratio of 1.25. LSI Industries Inc. has a 1-year low of $11.44 and a 1-year high of $17.33.

LSI Industries (NASDAQ:LYTS) last issued its quarterly earnings data on Thursday, August 15th. The construction company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. LSI Industries had a return on equity of 12.97% and a net margin of 5.32%. The company had revenue of $129.01 million during the quarter, compared to analyst estimates of $127.28 million. Analysts forecast that LSI Industries Inc. will post 0.88 EPS for the current year.

LSI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $0.05 dividend. The ex-dividend date was Monday, August 26th. This represents a $0.20 annualized dividend and a yield of 1.25%. LSI Industries’s dividend payout ratio (DPR) is currently 21.51%.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of LSI Industries in a research note on Friday, August 16th.

Insider Buying and Selling at LSI Industries

In other LSI Industries news, VP Thomas A. Caneris sold 9,748 shares of LSI Industries stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.57, for a total transaction of $142,028.36. Following the completion of the sale, the vice president now directly owns 98,656 shares in the company, valued at $1,437,417.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO James Anthony Clark sold 33,331 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.57, for a total value of $485,632.67. Following the sale, the chief executive officer now owns 361,099 shares in the company, valued at approximately $5,261,212.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas A. Caneris sold 9,748 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.57, for a total value of $142,028.36. Following the transaction, the vice president now directly owns 98,656 shares in the company, valued at approximately $1,437,417.92. The disclosure for this sale can be found here. Insiders have sold 51,903 shares of company stock valued at $756,227 over the last 90 days. 7.30% of the stock is owned by insiders.

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.