ING Groep NV acquired a new stake in shares of Acuity Brands Inc. (NYSE:AYI) during the second quarter, Holdings Channel reports. The firm acquired 1,569 shares of the company’s stock, valued at approximately $389,000.
A number of other institutional investors have also modified their holdings of AYI. Meeder Asset Management Inc. purchased a new position in Acuity Brands during the second quarter valued at about $153,000. Genesee Valley Trust Co. purchased a new position in Acuity Brands during the second quarter valued at about $207,000. Cue Financial Group Inc. purchased a new position in Acuity Brands during the second quarter valued at about $253,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Acuity Brands during the first quarter valued at about $273,000. Finally, UMB Bank N A MO raised its position in Acuity Brands by 26.3% in the second quarter. UMB Bank N A MO now owns 1,561 shares of the company’s stock valued at $387,000 after buying an additional 325 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.
Acuity Brands Inc. (NYSE:AYI) traded down 1.52% on Tuesday, reaching $240.09. 653,268 shares of the company were exchanged. Acuity Brands Inc. has a 52 week low of $169.42 and a 52 week high of $280.89. The stock has a 50-day moving average price of $263.64 and a 200 day moving average price of $256.37. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 36.21 and a beta of 1.46.
Acuity Brands (NYSE:AYI) last announced its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by $0.18. The business had revenue of $925.50 million for the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The company’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. Analysts forecast that Acuity Brands Inc. will post $9.70 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Friday, October 14th. Acuity Brands’s payout ratio is currently 7.83%.
Several equities analysts have issued reports on AYI shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $286.00 price target (down from $305.00) on shares of Acuity Brands in a report on Friday, September 30th. Williams Capital assumed coverage on shares of Acuity Brands in a report on Friday, September 30th. They issued a “buy” rating and a $306.00 price target on the stock. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $295.00 price objective on shares of Acuity Brands in a report on Thursday, June 30th. Zacks Investment Research raised shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 price objective on the stock in a report on Friday, June 24th. Finally, Cowen and Company set a $285.00 price objective on shares of Acuity Brands and gave the company a “buy” rating in a report on Thursday, October 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $275.36.
About Acuity Brands
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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