Oak Ridge Investments LLC Has $3,608,000 Stake in Acuity Brands Inc. (AYI)
Oak Ridge Investments LLC lowered its stake in shares of Acuity Brands Inc. (NYSE:AYI) by 3.4% during the third quarter, Holdings Channel reports. The institutional investor owned 13,634 shares of the company’s stock after selling 486 shares during the period. Oak Ridge Investments LLC’s holdings in Acuity Brands were worth $3,608,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its stake in shares of Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the company’s stock valued at $114,000 after buying an additional 76 shares during the period. Assetmark Inc. increased its position in shares of Acuity Brands by 1.2% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock worth $114,000 after buying an additional 5 shares during the period. Global X Management Co. LLC increased its position in shares of Acuity Brands by 127.1% in the third quarter. Global X Management Co. LLC now owns 461 shares of the company’s stock worth $122,000 after buying an additional 258 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Acuity Brands during the second quarter worth about $153,000. Finally, Mizuho Asset Management Co. Ltd. acquired a new position in shares of Acuity Brands during the second quarter worth about $163,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.
Shares of Acuity Brands Inc. (NYSE:AYI) traded down 0.30% during trading on Wednesday, reaching $251.41. The company’s stock had a trading volume of 376,313 shares. Acuity Brands Inc. has a 12-month low of $169.42 and a 12-month high of $280.89. The company has a 50 day moving average of $241.50 and a 200 day moving average of $255.52. The company has a market cap of $10.90 billion, a PE ratio of 37.92 and a beta of 1.34.
Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. The business earned $925.50 million during the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $1.63 earnings per share. On average, analysts anticipate that Acuity Brands Inc. will post $9.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Friday, October 14th. Acuity Brands’s payout ratio is currently 7.83%.
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A number of brokerages have issued reports on AYI. Cowen and Company set a $285.00 price objective on Acuity Brands and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank AG restated a “buy” rating and issued a $300.00 price objective on shares of Acuity Brands in a research note on Monday. Zacks Investment Research upgraded Acuity Brands from a “sell” rating to a “hold” rating in a research note on Thursday, November 10th. Seaport Global Securities began coverage on Acuity Brands in a research note on Friday, November 4th. They issued a “buy” rating and a $290.00 price objective for the company. Finally, Wells Fargo & Co. upgraded Acuity Brands from a “market perform” rating to an “outperform” rating in a research note on Monday, October 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $278.67.
About Acuity Brands
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
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