Manatuck Hill Partners LLC Invests $3.46 Million in LSI Industries Inc. $LYTS

Manatuck Hill Partners LLC acquired a new stake in shares of LSI Industries Inc. (NASDAQ:LYTS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 130,000 shares of the construction company’s stock, valued at approximately $3,455,000. LSI Industries makes up approximately 1.1% of Manatuck Hill Partners LLC’s holdings, making the stock its 29th biggest position.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of LSI Industries in the 2nd quarter worth about $72,118,000. Thrivent Financial for Lutherans raised its holdings in shares of LSI Industries by 70.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company’s stock valued at $13,604,000 after buying an additional 306,864 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in LSI Industries in the 2nd quarter worth approximately $6,232,000. Juniper Investment Company LLC lifted its position in LSI Industries by 211.0% in the 4th quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company’s stock worth $6,256,000 after buying an additional 231,693 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in LSI Industries by 163.7% in the third quarter. Kennedy Capital Management LLC now owns 339,495 shares of the construction company’s stock worth $8,015,000 after buying an additional 210,728 shares in the last quarter. 73.91% of the stock is owned by institutional investors.

LSI Industries Price Performance

LYTS stock opened at $20.65 on Wednesday. The firm’s 50-day moving average price is $24.40 and its two-hundred day moving average price is $22.66. LSI Industries Inc. has a 12-month low of $17.20 and a 12-month high of $27.36. The stock has a market capitalization of $758.06 million, a price-to-earnings ratio of 30.82 and a beta of 0.56. 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 (NASDAQ:LYTS) last issued its quarterly earnings data on Thursday, August 20th. The construction company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $234.62 million during the quarter, compared to the consensus estimate of $222.78 million. LSI Industries had a net margin of 3.28% and a return on equity of 8.04%. As a group, equities analysts predict that LSI Industries Inc. will post 1.18 earnings per share for the current year.

LSI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. LSI Industries’s dividend payout ratio is presently 29.85%.

Analysts Set New Price Targets

Several research firms have commented on LYTS. Wall Street Zen downgraded shares of LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating on shares of LSI Industries in a report on Friday. Oppenheimer decreased their target price on shares of LSI Industries from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, August 21st. Morgan Stanley set a $30.00 price target on shares of LSI Industries in a research note on Friday. Finally, Weiss Ratings lowered shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Insiders Place Their Bets

In other news, Director Wilfred T. Ogara sold 10,369 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 approximately $2,497,795.74. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest W. Marshall, Jr. bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $19.73 per share, with a total value of $39,460.00. Following the acquisition, the director owned 28,643 shares of the company’s stock, valued at $565,126.39. This represents a 7.51% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, 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 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.