Today, State Treasurer State of Michigan Buys 100 Shares of Acuity Brands Inc. (AYI)

Today, State Treasurer State of Michigan Buys 100 Shares of Acuity Brands Inc. (AYI)

State Treasurer State of Michigan raised its stake in Acuity Brands Inc. (NYSE:AYI) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 15,300 shares of the company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Acuity Brands were worth $4,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stephens Inc. AR increased its position in Acuity Brands by 0.4% in the second quarter. Stephens Inc. AR now owns 998 shares of the company’s stock valued at $247,000 after buying an additional 4 shares during the period. IFP Advisors Inc increased its position in Acuity Brands by 1.1% in the second quarter. IFP Advisors Inc now owns 929 shares of the company’s stock valued at $230,000 after buying an additional 10 shares during the period. Segall Bryant & Hamill LLC increased its position in Acuity Brands by 1.5% in the second quarter. Segall Bryant & Hamill LLC now owns 1,362 shares of the company’s stock valued at $338,000 after buying an additional 20 shares during the period. Commonwealth Equity Services Inc increased its position in Acuity Brands by 1.1% in the second quarter. Commonwealth Equity Services Inc now owns 2,130 shares of the company’s stock valued at $528,000 after buying an additional 23 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in Acuity Brands by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,106 shares of the company’s stock valued at $247,000 after buying an additional 27 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Acuity Brands Inc. (NYSE:AYI) traded down 2.62% during mid-day trading on Monday, hitting $250.78. 446,559 shares of the stock were exchanged. The firm has a market cap of $10.87 billion, a P/E ratio of 37.83 and a beta of 1.34. The stock’s 50 day moving average is $240.98 and its 200 day moving average is $255.45. Acuity Brands Inc. has a 12 month low of $169.42 and a 12 month high of $280.89.

Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by $0.18. The firm had revenue of $925.50 million for the quarter. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. Analysts expect that Acuity Brands Inc. will post $9.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were given a $0.13 dividend. The ex-dividend date was Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.20%. Acuity Brands’s dividend payout ratio is presently 7.83%.

Several research firms have commented on AYI. Roth Capital set a $275.00 price target on shares of Acuity Brands and gave the stock a “hold” rating in a research note on Saturday, October 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $300.00 target price on shares of Acuity Brands in a research note on Monday. Zacks Investment Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. Canaccord Genuity raised shares of Acuity Brands from a “hold” rating to a “buy” rating and decreased their target price for the stock from $305.00 to $286.00 in a research note on Thursday, October 6th. Finally, Williams Capital began coverage on shares of Acuity Brands in a research note on Friday, September 30th. They issued a “buy” rating and a $306.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Acuity Brands presently has an average rating of “Buy” and an average price target 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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