Allspring Global Investments Holdings LLC Acquires New Stake in LSI Industries Inc. $LYTS

Allspring Global Investments Holdings LLC bought a new position in LSI Industries Inc. (NASDAQ:LYTS) during the 1st quarter, Holdings Channel.com reports. The fund bought 113,257 shares of the construction company’s stock, valued at approximately $2,107,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 50,722 shares during the period. AltraVue Capital LLC grew its position in LSI Industries by 8.0% during the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company’s stock valued at $26,488,000 after buying an additional 106,693 shares during the period. Royce & Associates LP grew its position in LSI Industries by 16.4% during the fourth quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company’s stock valued at $22,284,000 after buying an additional 171,124 shares during the period. Geode Capital Management LLC increased its holdings in LSI Industries by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company’s stock valued at $13,985,000 after buying an additional 26,700 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised 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 acquiring an additional 306,864 shares during the period. 73.91% of the stock is currently owned by institutional investors.

LSI Industries Trading Down 0.8%

Shares of LYTS stock opened at $23.23 on Friday. LSI Industries Inc. has a 12-month low of $17.20 and a 12-month high of $27.36. 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’s 50-day moving average price is $24.56 and its 200-day moving average price is $22.21. The stock has a market capitalization of $852.77 million, a price-to-earnings ratio of 30.97 and a beta of 0.53.

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

Insider Activity at LSI Industries

In related news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction dated 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. The trade was a 44.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wilfred T. Ogara sold 10,369 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was 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 of the company’s stock, valued at approximately $2,497,795.74. The trade was a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 256,173 shares of company stock worth $6,220,368. Company insiders own 7.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Oppenheimer began coverage on shares of LSI Industries in a research note on Tuesday, June 9th. They set an “outperform” rating and a $30.00 price target on the stock. Wall Street Zen cut LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.75.

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.