LSI Industries Inc. (NASDAQ:LYTS) Plans Quarterly Dividend of $0.05

LSI Industries Inc. (NASDAQ:LYTS) declared a quarterly dividend on Thursday, August 20th. Investors of record on Monday, August 31st will be given a dividend of 0.05 per share by the construction company on Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st.

LSI Industries has a dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LSI Industries to earn $1.18 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 16.9%.

LSI Industries Stock Down 14.3%

LSI Industries stock traded down $3.44 during midday trading on Thursday, hitting $20.62. The stock had a trading volume of 1,307,000 shares, compared to its average volume of 338,606. The business has a fifty day moving average price of $24.80 and a 200 day moving average price of $22.72. LSI Industries has a 12 month low of $17.20 and a 12 month high of $27.36. The stock has a market cap of $756.96 million, a P/E ratio of 27.49 and a beta of 0.56. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58.

Insider Buying and Selling

In other LSI Industries news, Director Wilfred T. Ogara sold 10,369 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were 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 $2,497,795.74. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total value of $3,317,479.62. Following the completion of the transaction, the chief financial officer owned 173,288 shares of the company’s stock, valued at approximately $4,209,165.52. The trade was a 44.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 256,173 shares of company stock worth $6,220,368 over the last quarter. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in LSI Industries during the 2nd quarter valued at approximately $72,118,000. Thrivent Financial for Lutherans increased its position in LSI Industries by 70.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company’s stock worth $13,604,000 after buying an additional 306,864 shares during the period. Bank of New York Mellon Corp bought a new stake in LSI Industries in the second quarter valued at $6,232,000. Juniper Investment Company LLC boosted its holdings in shares of LSI Industries by 211.0% during the fourth quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company’s stock valued at $6,256,000 after acquiring an additional 231,693 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in shares of LSI Industries by 163.7% during the third quarter. Kennedy Capital Management LLC now owns 339,495 shares of the construction company’s stock valued at $8,015,000 after acquiring an additional 210,728 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.

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.