Ritholtz Wealth Management Reduces Stock Holdings in LSI Industries Inc. (NASDAQ:LYTS)

Ritholtz Wealth Management lessened its stake in shares of LSI Industries Inc. (NASDAQ:LYTS) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 44,999 shares of the construction company’s stock after selling 2,910 shares during the period. Ritholtz Wealth Management owned approximately 0.15% of LSI Industries worth $651,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of LSI Industries by 10.4% in the second quarter. Principal Financial Group Inc. now owns 14,793 shares of the construction company’s stock valued at $214,000 after acquiring an additional 1,398 shares during the period. TrueMark Investments LLC bought a new position in LSI Industries during the 2nd quarter valued at about $273,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in LSI Industries by 87.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,740 shares of the construction company’s stock worth $126,000 after purchasing an additional 4,065 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in LSI Industries by 37.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 52,988 shares of the construction company’s stock worth $767,000 after purchasing an additional 14,317 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in LSI Industries by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 261,675 shares of the construction company’s stock worth $3,786,000 after purchasing an additional 9,223 shares during the last quarter. 73.91% of the stock is currently owned by institutional investors.

Insider Transactions at LSI Industries

In related news, CFO James E. Galeese sold 8,824 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.57, for a total value of $128,565.68. Following the completion of the sale, the chief financial officer now owns 145,631 shares in the company, valued at $2,121,843.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James Anthony Clark sold 33,331 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.57, for a total transaction of $485,632.67. Following the transaction, the chief executive officer now owns 361,099 shares in the company, valued at $5,261,212.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James E. Galeese sold 8,824 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.57, for a total transaction of $128,565.68. Following the completion of the sale, the chief financial officer now directly owns 145,631 shares of the company’s stock, valued at $2,121,843.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,025 shares of company stock valued at $788,269. 7.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of LSI Industries in a research note on Friday, August 16th.

LSI Industries Stock Down 1.3 %

Shares of LYTS opened at $15.70 on Wednesday. The firm has a fifty day moving average price of $15.10 and a 200-day moving average price of $14.98. The company has a current ratio of 2.17, a quick ratio of 1.25 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $457.34 million, a P/E ratio of 16.88 and a beta of 0.86. LSI Industries Inc. has a 12-month low of $11.44 and a 12-month high of $17.33.

LSI Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.20 dividend on an annualized basis and a yield of 1.27%. LSI Industries’s dividend payout ratio is currently 21.51%.

LSI Industries Company Profile

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.