Lazard Asset Management LLC Sells 60,808 Shares of LSI Industries Inc. $LYTS

Lazard Asset Management LLC decreased its stake in LSI Industries Inc. (NASDAQ:LYTS) by 61.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 37,923 shares of the construction company’s stock after selling 60,808 shares during the period. Lazard Asset Management LLC’s holdings in LSI Industries were worth $705,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LYTS. Northwestern Mutual Wealth Management Co. lifted its stake in shares of LSI Industries by 205.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,031 shares during the period. Rockefeller Capital Management L.P. increased its position in LSI Industries by 57.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock valued at $31,000 after purchasing an additional 625 shares during the period. Strs Ohio acquired a new stake in LSI Industries during the 1st quarter valued at approximately $34,000. New York State Teachers Retirement System bought a new position in LSI Industries during the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC bought a new position in LSI Industries during the 2nd quarter worth approximately $47,000. 73.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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 price objective on the stock. Weiss Ratings raised shares of LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, LSI Industries has a consensus rating of “Moderate Buy” and an average target price of $28.75.

LSI Industries Trading Up 1.1%

NASDAQ LYTS opened at $25.00 on Thursday. The stock has a market capitalization of $917.75 million, a P/E ratio of 33.33 and a beta of 0.56. The business has a 50 day simple moving average of $24.63 and a 200 day simple moving average of $22.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.86. LSI Industries Inc. has a one year low of $17.20 and a one year high of $27.36.

Insiders Place Their Bets

In related news, Director Wilfred T. Ogara sold 10,369 shares of the 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 transaction, the director directly owned 103,686 shares of the company’s stock, valued at $2,497,795.74. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James E. Galeese sold 136,578 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the completion of the sale, the chief financial officer owned 173,288 shares of the company’s stock, valued at $4,209,165.52. The trade was a 44.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 256,173 shares of company stock worth $6,220,368. Corporate insiders own 7.30% of the company’s stock.

LSI Industries Company Profile

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.