Acuity Brands (AYI) Declares $0.13 Dividend
Acuity Brands said on March 30, 2023 that its board of directors declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Previously, the company paid $0.13 per share.
Shares must be purchased before the ex-div date of April 14, 2023 to qualify for the dividend. Shareholders of record as of April 17, 2023 will receive the payment on May 1, 2023.
At the current share price of $179.17 / share, the stock's dividend yield is 0.29%. Looking back five years and taking a sample every week, the average dividend yield has been 0.38%, the lowest has been 0.24%, and the highest has been 0.73%. The standard deviation of yields is 0.10 (n=235).
The current dividend yield is 0.95 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 10.52% Upside
As of March 30, 2023, the average one-year price target for Acuity Brands is $198.03. The forecasts range from a low of $181.80 to a high of $220.50. The average price target represents an increase of 10.52% from its latest reported closing price of $179.17.
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The projected annual revenue for Acuity Brands is $4,215MM, an increase of 3.36%. The projected annual non-GAAP EPS is $13.85.
What is the Fund Sentiment?
There are 848 funds or institutions reporting positions in Acuity Brands. This is an increase of 33 owner(s) or 4.05% in the last quarter. Average portfolio weight of all funds dedicated to AYI is 0.22%, a decrease of 10.14%. Total shares owned by institutions increased in the last three months by 2.72% to 36,288K shares. The put/call ratio of AYI is 2.06, indicating a bearish outlook.
What are Large Shareholders Doing?
Jpmorgan Chase & holds 1,354K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 1,400K shares, representing a decrease of 3.39%. The firm decreased its portfolio allocation in AYI by 6.61% over the last quarter.
Wellington Management Group Llp holds 1,049K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 1,231K shares, representing a decrease of 17.39%. The firm decreased its portfolio allocation in AYI by 99.99% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 993K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 956K shares, representing an increase of 3.74%. The firm decreased its portfolio allocation in AYI by 4.64% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 977K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 982K shares, representing a decrease of 0.49%. The firm decreased its portfolio allocation in AYI by 3.35% over the last quarter.
JMVSX - JPMorgan Mid Cap Value Fund Class I holds 963K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 983K shares, representing a decrease of 2.10%. The firm decreased its portfolio allocation in AYI by 2.45% over the last quarter.
Acuity Brands Background Information
(This description is provided by the company.)
Acuity Brands, Inc. is a market-leading industrial technology company. The Company designs, manufactures, and brings to market products and services that make the world more brilliant, productive, and connected including building management systems, lighting, lighting controls, and location-aware applications. Acuity Brands achieves growth through the development of innovative new products and services. Through the Acuity Business System, Acuity Brands achieves customer-focused efficiencies that allow the Company to increase market share and deliver superior returns. The Company looks to aggressively deploy capital to grow the business and to enter attractive new verticals. Acuity Brands is based in Atlanta, Georgia, with operations across North America, Europe, and Asia. The Company is powered by approximately 11,000 dedicated and talented associates.
This story originally appeared on Fintel.