American Century Companies Inc. Sells 80,026 Shares of LSI Industries Inc. $LYTS

American Century Companies Inc. lessened its stake in LSI Industries Inc. (NASDAQ:LYTS) by 31.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,494 shares of the construction company’s stock after selling 80,026 shares during the quarter. American Century Companies Inc. owned approximately 0.58% of LSI Industries worth $2,949,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new position in shares of LSI Industries in the fourth quarter valued at approximately $46,000. GAMMA Investing LLC lifted its holdings in shares of LSI Industries by 4,116.3% in the first quarter. GAMMA Investing LLC now owns 10,625 shares of the construction company’s stock valued at $181,000 after purchasing an additional 10,373 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in shares of LSI Industries in the fourth quarter valued at approximately $186,000. Harmony Asset Management LLC bought a new position in shares of LSI Industries in the fourth quarter valued at approximately $214,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of LSI Industries in the fourth quarter valued at approximately $248,000. Institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Performance

NASDAQ:LYTS opened at $22.93 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.08 and a quick ratio of 1.25. The business has a fifty day simple moving average of $18.64 and a two-hundred day simple moving average of $17.40. LSI Industries Inc. has a 1 year low of $13.77 and a 1 year high of $25.50. The company has a market capitalization of $686.07 million, a P/E ratio of 29.03 and a beta of 0.27.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, August 21st. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $155.07 million during the quarter, compared to the consensus estimate of $138.89 million. LSI Industries had a return on equity of 11.25% and a net margin of 4.25%. On average, analysts expect that LSI Industries Inc. will post 0.7 earnings per share for the current year.

LSI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, September 2nd will be given a $0.05 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. LSI Industries’s payout ratio is 25.32%.

Insider Activity

In related news, VP Thomas A. Caneris sold 7,544 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total transaction of $174,115.52. Following the completion of the transaction, the vice president directly owned 114,016 shares in the company, valued at $2,631,489.28. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Anthony Clark sold 26,597 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total value of $613,858.76. Following the transaction, the chief executive officer owned 421,313 shares of the company’s stock, valued at approximately $9,723,904.04. The trade was a 5.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,205 shares of company stock worth $927,931. 8.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen raised LSI Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 24th. Craig Hallum reissued a “buy” rating and issued a $28.00 price objective on shares of LSI Industries in a research report on Friday, August 22nd. Finally, Canaccord Genuity Group boosted their price objective on LSI Industries from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 25th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $27.67.

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.