The Manufacturers Life Insurance Company purchased a new position in shares of Acuity Brands Inc (NYSE:AYI) during the third quarter, Holdings Channel reports. The fund purchased 44,203 shares of the company’s stock, valued at approximately $11,697,000. The Manufacturers Life Insurance Company owned 0.10% of Acuity Brands at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Acuity Brands during the third quarter worth approximately $53,681,000. Columbus Circle Investors bought a new position in Acuity Brands during the third quarter worth about $35,941,000. Korea Investment CORP boosted its position in Acuity Brands by 1,701.3% in the third quarter. Korea Investment CORP now owns 106,279 shares of the company’s stock worth $28,121,000 after buying an additional 100,379 shares during the period. AGF Investments Inc. boosted its position in Acuity Brands by 296.7% in the second quarter. AGF Investments Inc. now owns 113,204 shares of the company’s stock worth $28,064,000 after buying an additional 84,670 shares during the period. Finally, Scout Investments Inc. boosted its position in Acuity Brands by 30.6% in the second quarter. Scout Investments Inc. now owns 328,047 shares of the company’s stock worth $81,343,000 after buying an additional 76,768 shares during the period. 91.73% of the stock is currently owned by institutional investors and hedge funds.
Acuity Brands Inc (NYSE:AYI) remained flat at $212.16 during midday trading on Friday. 505,809 shares of the stock were exchanged. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 30.66 and a beta of 1.33. Acuity Brands Inc has a 12 month low of $181.01 and a 12 month high of $280.89. The firm’s 50-day moving average is $215.77 and its 200-day moving average is $245.27.
Acuity Brands (NYSE:AYI) last announced its earnings results on Monday, January 9th. The company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by $0.16. The company had revenue of $821.20 million for the quarter. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. Analysts forecast that Acuity Brands Inc will post $8.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Monday, January 23rd were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Thursday, January 19th. Acuity Brands’s payout ratio is 7.50%.
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A number of equities analysts have recently issued reports on AYI shares. William Blair reissued an “outperform” rating on shares of Acuity Brands in a research report on Friday, October 14th. Zacks Investment Research cut shares of Acuity Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Wells Fargo & Company raised shares of Acuity Brands from a “market perform” rating to an “outperform” rating in a research report on Monday, October 31st. Seaport Global Securities started coverage on shares of Acuity Brands in a research report on Friday, November 4th. They set a “buy” rating and a $290.00 price objective on the stock. Finally, Deutsche Bank AG started coverage on shares of Acuity Brands in a research report on Tuesday, November 22nd. They set a “buy” rating and a $300.00 price objective on the stock. Three analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $257.33.
In other news, Director Ray M. Robinson sold 1,100 shares of Acuity Brands stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $206.19, for a total transaction of $226,809.00. Following the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $269,490.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.
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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