Truist Financial Corp Takes $334,000 Position in LSI Industries Inc. (NASDAQ:LYTS)

Truist Financial Corp bought a new position in shares of LSI Industries Inc. (NASDAQ:LYTS) in the 2nd quarter, Holdings Channel reports. The fund bought 26,630 shares of the construction company’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. raised its position in shares of LSI Industries by 10.2% in the 4th quarter. Victory Capital Management Inc. now owns 11,457 shares of the construction company’s stock valued at $140,000 after buying an additional 1,062 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of LSI Industries by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 225,597 shares of the construction company’s stock worth $3,143,000 after buying an additional 1,242 shares during the period. EAM Investors LLC increased its position in shares of LSI Industries by 0.6% during the fourth quarter. EAM Investors LLC now owns 227,017 shares of the construction company’s stock worth $2,779,000 after buying an additional 1,446 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of LSI Industries by 9.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 23,887 shares of the construction company’s stock worth $143,000 after buying an additional 2,137 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in LSI Industries during the first quarter worth $31,000. Institutional investors and hedge funds own 70.30% of the company’s stock.

Insider Transactions at LSI Industries

In other LSI Industries news, CFO James E. Galeese sold 7,155 shares of LSI Industries stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $15.72, for a total value of $112,476.60. Following the transaction, the chief financial officer now owns 142,134 shares in the company, valued at $2,234,346.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO James E. Galeese sold 7,155 shares of LSI Industries stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $15.72, for a total transaction of $112,476.60. Following the completion of the sale, the chief financial officer now owns 142,134 shares of the company’s stock, valued at $2,234,346.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jeffery S. Bastian sold 1,568 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $15.96, for a total value of $25,025.28. Following the completion of the transaction, the chief accounting officer now directly owns 25,891 shares of the company’s stock, valued at $413,220.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,020 shares of company stock worth $949,419. 7.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

LYTS has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of LSI Industries in a research note on Friday, August 18th. StockNews.com started coverage on shares of LSI Industries in a research note on Thursday, October 5th. They set a “strong-buy” rating for the company. Finally, Craig Hallum lifted their target price on shares of LSI Industries from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 18th.

LSI Industries Stock Performance

Shares of LSI Industries stock opened at $12.24 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.98 and a quick ratio of 1.13. The stock has a market cap of $353.98 million, a price-to-earnings ratio of 13.16 and a beta of 1.05. The firm’s 50-day moving average is $15.11 and its 200 day moving average is $13.64. LSI Industries Inc. has a 1 year low of $9.92 and a 1 year high of $16.97.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, August 17th. The construction company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.11. LSI Industries had a net margin of 5.58% and a return on equity of 15.89%. The company had revenue of $123.64 million during the quarter, compared to analyst estimates of $119.42 million. During the same period in the prior year, the firm posted $0.21 EPS. Sell-side analysts anticipate that LSI Industries Inc. will post 1.12 EPS for the current fiscal year.

LSI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Monday, November 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.63%. LSI Industries’s dividend payout ratio is presently 21.51%.

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.