Kornitzer Capital Management Inc. KS Invests $641,000 in LSI Industries Inc. $LYTS

Kornitzer Capital Management Inc. KS acquired a new position in LSI Industries Inc. (NASDAQ:LYTS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,469 shares of the construction company’s stock, valued at approximately $641,000. Kornitzer Capital Management Inc. KS owned approximately 0.11% of LSI Industries at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in LSI Industries by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company’s stock valued at $39,133,000 after buying an additional 50,722 shares in the last quarter. AltraVue Capital LLC boosted its holdings in LSI Industries by 8.0% in the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company’s stock worth $26,488,000 after acquiring an additional 106,693 shares in the last quarter. Royce & Associates LP boosted its holdings in LSI Industries by 16.4% in the fourth quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company’s stock worth $22,284,000 after acquiring an additional 171,124 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of LSI Industries by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company’s stock worth $13,985,000 after acquiring an additional 26,700 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of LSI Industries by 70.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company’s stock worth $13,604,000 after acquiring an additional 306,864 shares during the last quarter. 73.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Oppenheimer began coverage on shares of LSI Industries in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $30.00 target price for the company. Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered shares of LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.75.

LSI Industries Stock Down 1.7%

LSI Industries stock opened at $23.75 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 1.48. The business’s 50-day simple moving average is $24.62 and its two-hundred day simple moving average is $21.91. The company has a market cap of $871.86 million, a PE ratio of 31.67 and a beta of 0.53. LSI Industries Inc. has a fifty-two week low of $17.20 and a fifty-two week high of $27.36.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.34). LSI Industries had a return on equity of 8.90% and a net margin of 3.91%.The firm had revenue of $150.53 million during the quarter, compared to analysts’ expectations of $163.53 million. Equities analysts anticipate that LSI Industries Inc. will post 0.78 EPS for the current year.

LSI Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Monday, May 4th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, May 4th. LSI Industries’s dividend payout ratio is 26.67%.

Insider Buying and Selling

In other LSI Industries news, CFO James E. Galeese sold 136,578 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the completion of the transaction, the chief financial officer directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wilfred T. Ogara sold 10,369 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $24.09, for a total transaction of $249,789.21. Following the completion of the sale, the director directly owned 103,686 shares in the company, valued at $2,497,795.74. This trade represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 256,173 shares of company stock worth $6,220,368. 7.30% of the stock is owned by company insiders.

About LSI Industries

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.