Acuity Brands, Inc. to Issue Quarterly Dividend of $0.13 (NYSE:AYI) (2023)

Acuity Brands, Inc. (NYSE:AYI - Get Rating) declared a quarterly dividend on Friday, March 31st, Wall Street Journal reports. Investors of record on Monday, April 17th will be given a dividend of 0.13 per share by the electronics maker on Monday, May 1st. This represents a $0.52 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, April 14th.

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• Why Did Acuity Brands, Inc Fall After Strong Q2 Results?

Acuity Brands has a dividend payout ratio of 3.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Acuity Brands to earn $13.01 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 4.0%.

Acuity Brands Stock Performance

Shares of AYI traded up $3.56 during trading hours on Friday, hitting $182.73. The stock had a trading volume of 228,822 shares, compared to its average volume of 285,115. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.09 and a quick ratio of 1.39. Acuity Brands has a 12 month low of $142.71 and a 12 month high of $202.90. The firm has a market capitalization of $5.86 billion, a PE ratio of 16.51, a PEG ratio of 1.41 and a beta of 1.59. The stock has a fifty day moving average price of $187.78 and a 200 day moving average price of $178.74.

• Acuity Brands Is Lighting Up Another Buying Opportunity

Acuity Brands (NYSE:AYI - Get Rating) last issued its quarterly earnings data on Monday, January 9th. The electronics maker reported $3.04 EPS for the quarter, topping the consensus estimate of $2.70 by $0.34. Acuity Brands had a return on equity of 21.40% and a net margin of 9.11%. The company had revenue of $997.90 million during the quarter, compared to analyst estimates of $984.46 million. During the same quarter in the previous year, the company posted $2.85 earnings per share. Acuity Brands's revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Acuity Brands will post 12.4 EPS for the current year.

Insider Buying and Selling

In other news, SVP Barry R. Goldman sold 2,211 shares of the firm's stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $174.31, for a total value of $385,399.41. Following the completion of the sale, the senior vice president now directly owns 5,791 shares of the company's stock, valued at approximately $1,009,429.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Karen J. Holcom sold 4,238 shares of Acuity Brands stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $174.51, for a total transaction of $739,573.38. Following the completion of the transaction, the chief financial officer now directly owns 16,856 shares of the company's stock, valued at approximately $2,941,540.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Barry R. Goldman sold 2,211 shares of the company's stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $174.31, for a total transaction of $385,399.41. Following the transaction, the senior vice president now owns 5,791 shares in the company, valued at $1,009,429.21. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acuity Brands

• 3 Quality Industrial Stocks to Buy in November

A number of hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Acuity Brands in the 4th quarter worth approximately $33,000. Zions Bancorporation N.A. raised its holdings in shares of Acuity Brands by 2,926.7% in the first quarter. Zions Bancorporation N.A. now owns 454 shares of the electronics maker's stock worth $86,000 after buying an additional 439 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of Acuity Brands in the fourth quarter worth $215,000. State of Wyoming increased its stake in shares of Acuity Brands by 610.5% in the fourth quarter. State of Wyoming now owns 1,350 shares of the electronics maker's stock worth $224,000 after acquiring an additional 1,160 shares during the period. Finally, Cibc World Market Inc. grew its position in Acuity Brands by 10.3% during the first quarter. Cibc World Market Inc. now owns 1,224 shares of the electronics maker's stock valued at $232,000 after buying an additional 114 shares during the period. 93.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Robert W. Baird cut Acuity Brands from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $200.00 to $190.00 in a research report on Friday, December 16th. StockNews.com started coverage on shares of Acuity Brands in a research report on Thursday, March 16th. They set a "strong-buy" rating on the stock. Wells Fargo & Company upped their target price on shares of Acuity Brands from $188.00 to $193.00 and gave the stock an "overweight" rating in a research report on Thursday, January 5th. Finally, UBS Group lifted their price target on shares of Acuity Brands from $170.00 to $180.00 in a report on Tuesday, January 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Acuity Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.00.

Acuity Brands Company Profile

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Acuity Brands, Inc operates as an industrial technology company, which engages in the provision of lighting and building management solutions and services. It operates through the Acuity Brands Lighting and Lighting Controls and Intelligent Spaces Group segments. The company was founded in 2001 and is headquartered in Atlanta, GA.

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