Two Sigma Advisers LP acquired a new stake in shares of Acuity Brands, Inc. (NYSE:AYI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 224,872 shares of the electronics maker’s stock, valued at approximately $39,577,000. Two Sigma Advisers LP owned approximately 0.53% of Acuity Brands at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Acuity Brands by 645.9% during the fourth quarter. Wells Fargo & Company MN now owns 571,392 shares of the electronics maker’s stock valued at $100,564,000 after purchasing an additional 494,788 shares during the last quarter. Generation Investment Management LLP lifted its position in Acuity Brands by 12.4% during the fourth quarter. Generation Investment Management LLP now owns 3,767,048 shares of the electronics maker’s stock valued at $663,000,000 after purchasing an additional 415,908 shares during the last quarter. Carillon Tower Advisers Inc. bought a new stake in Acuity Brands during the fourth quarter valued at approximately $68,182,000. Atlanta Capital Management Co. L L C lifted its position in Acuity Brands by 24.1% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 1,755,704 shares of the electronics maker’s stock valued at $309,004,000 after purchasing an additional 341,244 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in Acuity Brands by 34.3% during the third quarter. Alyeska Investment Group L.P. now owns 886,653 shares of the electronics maker’s stock valued at $151,866,000 after purchasing an additional 226,605 shares during the last quarter.
Shares of AYI traded down $1.38 during mid-day trading on Friday, reaching $131.83. The company’s stock had a trading volume of 988,275 shares, compared to its average volume of 789,853. The firm has a market cap of $5,557.69, a price-to-earnings ratio of 16.56, a PEG ratio of 1.36 and a beta of 1.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 2.15. Acuity Brands, Inc. has a 52 week low of $119.02 and a 52 week high of $208.82.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Tuesday, January 9th. The electronics maker reported $1.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($0.16). Acuity Brands had a return on equity of 20.56% and a net margin of 9.68%. The business had revenue of $842.80 million during the quarter, compared to the consensus estimate of $883.97 million. equities research analysts predict that Acuity Brands, Inc. will post 8.72 earnings per share for the current year.
Acuity Brands announced that its board has approved a share buyback plan on Wednesday, April 4th that permits the company to buyback 6,000,000 shares. This buyback authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, April 16th. This represents a $0.52 dividend on an annualized basis and a yield of 0.39%. Acuity Brands’s dividend payout ratio is currently 6.53%.
AYI has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Acuity Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. William Blair lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 22nd. Robert W. Baird reiterated a “hold” rating and set a $198.00 target price on shares of Acuity Brands in a research report on Tuesday, January 9th. Williams Capital lowered shares of Acuity Brands from a “buy” rating to a “hold” rating and dropped their target price for the company from $204.00 to $175.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo reiterated a “market perform” rating and set a $175.00 target price (down from $185.00) on shares of Acuity Brands in a research report on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Acuity Brands presently has an average rating of “Hold” and an average price target of $178.08.
COPYRIGHT VIOLATION WARNING: This piece was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/04/08/two-sigma-advisers-lp-invests-39-58-million-in-acuity-brands-inc-ayi-stock.html.
Acuity Brands 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 controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.