LSI Industries Inc. (NASDAQ:LYTS) Stake Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC increased its stake in LSI Industries Inc. (NASDAQ:LYTS) by 36.2% during the fourth quarter, HoldingsChannel reports. The firm owned 18,804 shares of the construction company’s stock after acquiring an additional 4,997 shares during the period. Lazard Asset Management LLC’s holdings in LSI Industries were worth $365,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LYTS. Invesco Ltd. increased its stake in LSI Industries by 354.1% in the 4th quarter. Invesco Ltd. now owns 243,781 shares of the construction company’s stock worth $4,734,000 after purchasing an additional 190,095 shares in the last quarter. Expect Equity LLC purchased a new position in LSI Industries during the 4th quarter valued at about $2,391,000. Anderson Financial Strategies LLC purchased a new position in LSI Industries during the 4th quarter valued at about $1,279,000. JPMorgan Chase & Co. grew its stake in LSI Industries by 203.0% during the 4th quarter. JPMorgan Chase & Co. now owns 86,550 shares of the construction company’s stock valued at $1,681,000 after acquiring an additional 57,989 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in LSI Industries during the 4th quarter valued at about $1,002,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on LYTS shares. Canaccord Genuity Group lowered their target price on LSI Industries from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Wall Street Zen cut LSI Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of LSI Industries in a research note on Friday, April 25th.

LSI Industries Stock Down 0.8%

Shares of LSI Industries stock opened at $15.67 on Friday. The firm has a market cap of $468.86 million, a price-to-earnings ratio of 20.35 and a beta of 0.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.08 and a quick ratio of 1.20. LSI Industries Inc. has a 52-week low of $13.63 and a 52-week high of $25.50. The stock has a 50-day simple moving average of $16.19 and a 200-day simple moving average of $18.49.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings results on Thursday, April 24th. The construction company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $132.48 million during the quarter, compared to analyst estimates of $129.72 million. LSI Industries had a return on equity of 11.25% and a net margin of 4.47%. On average, equities research analysts expect that LSI Industries Inc. will post 0.7 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Monday, May 5th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.20 annualized dividend and a dividend yield of 1.28%. LSI Industries’s dividend payout ratio is 27.78%.

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.