Summit Global Investments Purchases New Shares in LSI Industries Inc. (NASDAQ:LYTS)

Summit Global Investments acquired a new stake in LSI Industries Inc. (NASDAQ:LYTS) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 16,631 shares of the construction company’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of LYTS. Systematic Financial Management LP increased its stake 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. Barclays PLC increased its position in LSI Industries by 117.1% in the 3rd quarter. Barclays PLC now owns 69,824 shares of the construction company’s stock valued at $1,127,000 after acquiring an additional 37,660 shares in the last quarter. Annex Advisory Services LLC increased its position in LSI Industries by 28.7% in the 4th 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 in the last quarter. Bleakley Financial Group LLC raised its stake in shares of LSI Industries by 228.8% in the fourth quarter. Bleakley Financial Group LLC now owns 34,628 shares of the construction company’s stock worth $672,000 after acquiring an additional 24,096 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in shares of LSI Industries during the fourth quarter worth approximately $368,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

LSI Industries Stock Performance

LSI Industries stock opened at $17.92 on Tuesday. The company has a market cap of $536.18 million, a PE ratio of 23.27 and a beta of 1.00. The company has a current ratio of 2.08, a quick ratio of 1.20 and a debt-to-equity ratio of 0.16. LSI Industries Inc. has a 1 year low of $13.63 and a 1 year high of $25.50. The company’s 50-day moving average is $19.41 and its two-hundred day moving average is $18.56.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings data 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 analysts anticipate that LSI Industries Inc. will post 0.7 earnings per share for the current year.

LSI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Monday, February 3rd were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.12%. LSI Industries’s dividend payout ratio (DPR) is presently 25.97%.

Wall Street Analysts Forecast Growth

LYTS has been the subject of several research analyst reports. 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 research report on Friday, January 24th. Canaccord Genuity Group lifted their target price on LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

About LSI Industries

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.