JPMorgan Chase & Co. Lowers Position in LSI Industries Inc. (NASDAQ:LYTS)

JPMorgan Chase & Co. reduced its position in shares of LSI Industries Inc. (NASDAQ:LYTS) by 61.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,561 shares of the construction company’s stock after selling 45,840 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of LSI Industries worth $461,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in shares of LSI Industries during the 2nd quarter worth approximately $375,000. Squarepoint Ops LLC purchased a new position in LSI Industries in the second quarter worth $191,000. AQR Capital Management LLC lifted its holdings in LSI Industries by 8.1% in the second quarter. AQR Capital Management LLC now owns 143,829 shares of the construction company’s stock valued at $2,081,000 after acquiring an additional 10,790 shares during the period. SG Americas Securities LLC purchased a new stake in shares of LSI Industries during the 3rd quarter worth $183,000. Finally, Annex Advisory Services LLC grew its stake in shares of LSI Industries by 32.4% during the 3rd quarter. Annex Advisory Services LLC now owns 106,283 shares of the construction company’s stock worth $1,716,000 after purchasing an additional 25,982 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on LYTS shares. HC Wainwright boosted their price objective on shares of LSI Industries from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Canaccord Genuity Group upped their price target on LSI Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, January 24th.

LSI Industries Stock Performance

NASDAQ:LYTS opened at $21.45 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $640.07 million, a P/E ratio of 27.15 and a beta of 0.93. The firm has a 50-day moving average price of $19.93 and a two-hundred day moving average price of $17.54. LSI Industries Inc. has a twelve month low of $13.35 and a twelve month high of $25.50.

LSI Industries (NASDAQ:LYTS) last issued its quarterly earnings data on Thursday, January 23rd. The construction company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). LSI Industries had a return on equity of 11.71% and a net margin of 4.88%. As a group, research analysts expect that LSI Industries Inc. will post 0.86 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Monday, February 3rd will be given a $0.05 dividend. The ex-dividend date is Monday, February 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.93%. LSI Industries’s dividend payout ratio is currently 25.32%.

LSI Industries Company 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.