Acadian Asset Management LLC boosted its holdings in shares of Acuity Brands, Inc. (NYSE:AYI) by 106.7% in the third quarter, HoldingsChannel reports. The firm owned 49,286 shares of the electronics maker’s stock after buying an additional 25,447 shares during the period. Acadian Asset Management LLC’s holdings in Acuity Brands were worth $5,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently modified their holdings of the company. Nachman Norwood & Parrott Inc acquired a new position in shares of Acuity Brands in the third quarter worth about $36,000. Fifth Third Bancorp raised its position in shares of Acuity Brands by 33.3% in the second quarter. Fifth Third Bancorp now owns 400 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 100 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of Acuity Brands in the second quarter worth about $43,000. QV Investors Inc. acquired a new position in shares of Acuity Brands in the third quarter worth about $60,000. Finally, Allworth Financial LP acquired a new position in shares of Acuity Brands in the second quarter worth about $66,000. Institutional investors and hedge funds own 96.82% of the company’s stock.
AYI has been the subject of a number of research reports. ValuEngine raised shares of Acuity Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 12th. Oppenheimer increased their price target on shares of Acuity Brands from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, UBS Group initiated coverage on shares of Acuity Brands in a report on Tuesday, September 15th. They issued a “sell” rating and a $91.00 price objective on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $98.30.
Acuity Brands (NYSE:AYI) last released its earnings results on Tuesday, October 13th. The electronics maker reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.32. The company had revenue of $891.20 million for the quarter, compared to analyst estimates of $825.34 million. Acuity Brands had a net margin of 7.46% and a return on equity of 14.43%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.75 EPS. As a group, research analysts predict that Acuity Brands, Inc. will post 7.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 19th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, October 16th. This represents a $0.52 dividend on an annualized basis and a yield of 0.47%. Acuity Brands’s dividend payout ratio (DPR) is presently 6.92%.
Acuity Brands Company Profile
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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