Legato Capital Management LLC Increases Position in LSI Industries Inc. $LYTS

Legato Capital Management LLC boosted its holdings in shares of LSI Industries Inc. (NASDAQ:LYTS) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 394,103 shares of the construction company’s stock after acquiring an additional 31,429 shares during the period. LSI Industries accounts for approximately 0.6% of Legato Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Legato Capital Management LLC owned about 1.27% of LSI Industries worth $7,220,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in LSI Industries during the 3rd quarter valued at about $38,000. New York State Teachers Retirement System purchased a new stake in LSI Industries during the 4th quarter valued at about $36,000. Strs Ohio purchased a new stake in LSI Industries during the 1st quarter valued at about $34,000. Quarry LP purchased a new stake in LSI Industries during the 3rd quarter valued at about $55,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of LSI Industries by 711.7% in the third quarter. Russell Investments Group Ltd. now owns 2,703 shares of the construction company’s stock valued at $64,000 after purchasing an additional 2,370 shares during the period. Hedge funds and other institutional investors own 73.91% of the company’s stock.

LSI Industries Trading Up 3.0%

Shares of LYTS opened at $23.26 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. LSI Industries Inc. has a 12-month low of $15.31 and a 12-month high of $24.99. The firm has a 50-day moving average price of $20.97 and a 200 day moving average price of $20.37. The firm has a market capitalization of $853.87 million, a P/E ratio of 31.01 and a beta of 0.54.

LSI Industries (NASDAQ:LYTS) last announced its earnings results on Thursday, April 23rd. The construction company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.34). The company had revenue of $150.53 million for the quarter, compared to analysts’ expectations of $163.53 million. LSI Industries had a return on equity of 8.90% and a net margin of 3.91%. Sell-side analysts forecast that LSI Industries Inc. will post 0.81 EPS for the current year.

LSI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Monday, May 4th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, May 4th. LSI Industries’s dividend payout ratio (DPR) is 26.67%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYTS. Weiss Ratings reissued a “hold (c+)” rating on shares of LSI Industries in a report on Friday, May 8th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of LSI Industries in a report on Tuesday, January 27th. Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen lowered shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Canaccord Genuity Group upped their price objective on shares of LSI Industries from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, LSI Industries has an average rating of “Moderate Buy” and a consensus target price of $28.33.

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.