Navellier & Associates Inc. Sells 32,669 Shares of LSI Industries Inc. (NASDAQ:LYTS)

Navellier & Associates Inc. lessened its stake in LSI Industries Inc. (NASDAQ:LYTS) by 54.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,279 shares of the construction company’s stock after selling 32,669 shares during the quarter. Navellier & Associates Inc.’s holdings in LSI Industries were worth $441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Johnson Investment Counsel Inc. purchased a new position in shares of LSI Industries in the second quarter worth about $1,691,000. TrueMark Investments LLC acquired a new position in shares of LSI Industries during the second quarter valued at approximately $273,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of LSI Industries during the third quarter worth $611,000. Allspring Global Investments Holdings LLC raised its holdings in LSI Industries by 37.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 52,988 shares of the construction company’s stock valued at $767,000 after acquiring an additional 14,317 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in LSI Industries by 12.8% during the second quarter. First Eagle Investment Management LLC now owns 446,722 shares of the construction company’s stock worth $6,464,000 after buying an additional 50,624 shares in the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

LSI Industries Stock Performance

NASDAQ LYTS opened at $20.23 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.21. The firm has a market cap of $603.66 million, a P/E ratio of 25.52 and a beta of 0.87. The business’s 50-day moving average price is $17.06 and its 200 day moving average price is $15.87. LSI Industries Inc. has a 52-week low of $12.82 and a 52-week high of $21.17.

LSI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.99%. LSI Industries’s payout ratio is currently 25.32%.

About LSI Industries

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.