130,000 Shares in LSI Industries Inc. $LYTS Purchased by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC acquired a new stake in LSI Industries Inc. (NASDAQ:LYTS) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 130,000 shares of the construction company’s stock, valued at approximately $3,455,000. LSI Industries accounts for 1.1% of Manatuck Hill Partners LLC’s portfolio, making the stock its 29th largest holding. Manatuck Hill Partners LLC owned 0.35% of LSI Industries as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bailard Inc. boosted its position in LSI Industries by 3.4% during the fourth quarter. Bailard Inc. now owns 15,300 shares of the construction company’s stock worth $280,000 after purchasing an additional 500 shares during the period. Quantinno Capital Management LP raised its position in shares of LSI Industries by 1.2% in the first quarter. Quantinno Capital Management LP now owns 46,120 shares of the construction company’s stock valued at $858,000 after purchasing an additional 536 shares during the period. New York State Teachers Retirement System lifted its stake in shares of LSI Industries by 28.5% during the 1st quarter. New York State Teachers Retirement System now owns 2,495 shares of the construction company’s stock valued at $46,000 after buying an additional 554 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in LSI Industries by 57.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock worth $31,000 after buying an additional 625 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in LSI Industries by 11.8% in the 2nd quarter. Osaic Holdings Inc. now owns 6,007 shares of the construction company’s stock worth $102,000 after buying an additional 635 shares during the period. 73.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the completion of the sale, the chief financial officer owned 173,288 shares of the company’s stock, valued at approximately $4,209,165.52. This trade represents a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wilfred T. Ogara sold 10,369 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $24.09, for a total value of $249,789.21. Following the transaction, the director owned 103,686 shares of the company’s stock, valued at approximately $2,497,795.74. The trade was a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 256,173 shares of company stock worth $6,220,368. 7.30% of the stock is currently owned by corporate insiders.

LSI Industries Price Performance

Shares of NASDAQ:LYTS opened at $20.65 on Wednesday. The company has a 50 day moving average of $24.40 and a 200 day moving average of $22.66. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. The stock has a market cap of $758.06 million, a P/E ratio of 30.82 and a beta of 0.56. LSI Industries Inc. has a 12 month low of $17.20 and a 12 month high of $27.36.

LSI Industries (NASDAQ:LYTS) last posted its earnings results on Thursday, August 20th. The construction company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The business had revenue of $234.62 million for the quarter, compared to analysts’ expectations of $222.78 million. LSI Industries had a net margin of 3.28% and a return on equity of 8.04%. As a group, sell-side analysts forecast that LSI Industries Inc. will post 1.18 EPS for the current fiscal year.

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 31st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, August 31st. LSI Industries’s dividend payout ratio (DPR) is 29.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of LSI Industries from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, August 21st. Wall Street Zen lowered LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Morgan Stanley set a $30.00 price objective on LSI Industries in a research note on Friday. Finally, HC Wainwright reissued a “buy” rating on shares of LSI Industries in a report on Friday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.00.

LSI Industries Company Profile

LSI Industries, Inc (NASDAQ: LYTS) is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.