M&T Bank Corp Lowers Stake in Acuity Brands, Inc. (NYSE:AYI)

M&T Bank Corp lessened its stake in Acuity Brands, Inc. (NYSE:AYI) by 73.5% in the 2nd quarter, Holdings Channel reports. The firm owned 6,151 shares of the electronics maker’s stock after selling 17,024 shares during the period. M&T Bank Corp’s holdings in Acuity Brands were worth $848,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC acquired a new position in Acuity Brands during the second quarter worth $34,000. First Mercantile Trust Co. acquired a new position in Acuity Brands during the 2nd quarter worth about $58,000. Cutler Group LP lifted its stake in Acuity Brands by 66.7% during the 2nd quarter. Cutler Group LP now owns 500 shares of the electronics maker’s stock worth $68,000 after acquiring an additional 200 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Acuity Brands by 60.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 568 shares of the electronics maker’s stock worth $78,000 after acquiring an additional 215 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its holdings in Acuity Brands by 45.6% during the 2nd quarter. NEXT Financial Group Inc now owns 667 shares of the electronics maker’s stock valued at $92,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 92.95% of the company’s stock.

In related news, Director Ray M. Robinson sold 2,363 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.15, for a total transaction of $307,544.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.



NYSE AYI traded up $2.48 on Wednesday, hitting $136.70. 15,110 shares of the stock were exchanged, compared to its average volume of 229,629. The company has a quick ratio of 1.57, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Acuity Brands, Inc. has a fifty-two week low of $103.48 and a fifty-two week high of $173.01. The company has a market cap of $5.15 billion, a PE ratio of 16.58, a PEG ratio of 1.27 and a beta of 1.57. The company has a 50-day moving average price of $127.72 and a 200-day moving average price of $132.52.

Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Tuesday, July 2nd. The electronics maker reported $2.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.16. The business had revenue of $947.60 million for the quarter, compared to analyst estimates of $969.48 million. Acuity Brands had a net margin of 9.02% and a return on equity of 19.90%. The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the business earned $2.37 EPS. As a group, equities research analysts predict that Acuity Brands, Inc. will post 9.09 EPS for the current fiscal year.

AYI has been the topic of several research reports. Roth Capital set a $95.00 price target on shares of Acuity Brands and gave the stock a “sell” rating in a research report on Wednesday, July 3rd. Credit Suisse Group lowered their price objective on shares of Acuity Brands from $155.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. ValuEngine cut shares of Acuity Brands from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. CIBC upped their target price on shares of Acuity Brands from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $145.00 target price (down from $150.00) on shares of Acuity Brands in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Acuity Brands has an average rating of “Hold” and an average target price of $149.90.

About Acuity Brands

Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.

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Institutional Ownership by Quarter for Acuity Brands (NYSE:AYI)

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