The Acuity Brands Inc. (AYI) to Issue Quarterly Dividend of $0.13 on November 1st

The Acuity Brands Inc. (AYI) to Issue Quarterly Dividend of $0.13 on  November 1st

Acuity Brands Inc. (NYSE:AYI) announced a quarterly dividend on Friday, September 30th. Shareholders of record on Tuesday, October 18th will be paid a dividend of 0.13 per share on Tuesday, November 1st. This represents a $0.52 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Friday, October 14th.

Shares of Acuity Brands (NYSE:AYI) opened at 240.74 on Friday. The firm’s 50-day moving average is $264.61 and its 200 day moving average is $255.63. The firm has a market cap of $10.47 billion, a PE ratio of 39.33 and a beta of 1.46. Acuity Brands has a 52 week low of $169.42 and a 52 week high of $280.89.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by $0.18. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The company had revenue of $925.50 million for the quarter. During the same period in the previous year, the company posted $1.63 earnings per share. Acuity Brands’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts forecast that Acuity Brands will post $9.70 EPS for the current year.

Several equities research analysts recently weighed in on the company. Roth Capital reaffirmed a “neutral” rating and set a $250.00 price target (down from $275.00) on shares of Acuity Brands in a report on Friday. Robert W. Baird set a $272.00 price target on Acuity Brands and gave the stock a “buy” rating in a report on Thursday. Cowen and Company set a $285.00 price target on Acuity Brands and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity raised Acuity Brands from a “hold” rating to a “buy” rating and decreased their price target for the stock from $305.00 to $286.00 in a report on Thursday. Finally, DA Davidson reaffirmed a “hold” rating and set a $255.00 price target on shares of Acuity Brands in a report on Tuesday, October 4th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $275.36.

In related news, CEO Vernon J. Nagel sold 65,060 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $268.30, for a total transaction of $17,455,598.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard K. Reece sold 33,430 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $269.07, for a total value of $8,995,010.10. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in Acuity Brands by 3.6% in the second quarter. American Century Companies Inc. now owns 686,571 shares of the company’s stock worth $170,242,000 after buying an additional 23,689 shares during the last quarter. BlackRock Inc. raised its stake in Acuity Brands by 28.0% in the second quarter. BlackRock Inc. now owns 106,150 shares of the company’s stock worth $26,321,000 after buying an additional 23,217 shares during the last quarter. BlackRock Group LTD raised its stake in Acuity Brands by 19.2% in the second quarter. BlackRock Group LTD now owns 367,729 shares of the company’s stock worth $91,182,000 after buying an additional 59,332 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in Acuity Brands by 1.5% in the second quarter. Segall Bryant & Hamill LLC now owns 1,362 shares of the company’s stock worth $338,000 after buying an additional 20 shares during the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in Acuity Brands by 5.2% in the second quarter. BlackRock Japan Co. Ltd now owns 57,586 shares of the company’s stock worth $14,279,000 after buying an additional 2,864 shares during the last quarter. 93.26% of the stock is currently owned by institutional investors and hedge funds.

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