Acuity Brands (AYI) declares a dividend of $0.13

Acuity Brands said on March 30, 2023 that its board of directors had 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 be eligible for the dividend. Shareholders of record on April 17, 2023 will receive payment on May 1, 2023.

At the current share price of $179.17/share, the dividend yield of the stock is 0.29%. Looking back five years and taking a sample each week, the average dividend yield was 0.38%, the lowest 0.24% and the highest 0.73%. The standard deviation of returns 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 as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company has not increased its dividend in the past three years.

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Analyst price forecast suggests 10.52% upside

As of March 30, 2023, the one-year average price target for Acuity brands was $198.03. The predictions range from a low of $181.80 to a high of $220.50. The average price target represents a 10.52% increase from its last reported closing price of $179.17.

Check out our ranking of the companies with the biggest upward price target.

Expected annual revenue for Acuity Brands is $4,215 million, an increase of 3.36%. Projected annual non-GAAP EPS is $13.85.

What is 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%. The total number of shares held by institutions has increased over the past three months by 2.72% to 36,288,000 shares. AYI’s put/call ratio is 2.06, indicating a bearish outlook.

What do major shareholders do?

Jpmorgan Chase & holds 1,354,000 shares representing 4.28% ownership of the company. In its previous filing, the company said it held 1,400,000 shares, representing
a decrease
of 3.39%. The company

decreases

its portfolio allocation to AYI by 6.61% in the last quarter.

Wellington Management Group Llp holds 1,049,000 shares representing 3.31% ownership of the company. In its previous filing, the company said it held 1,231,000 shares, representing
a decrease
of 17.39%. The company

decreases

its portfolio allocation in AYI of 99.99% in the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 993,000 shares representing 3.14% ownership of the company. In its previous filing, the company said it held 956,000 shares, representing
a raise
of 3.74%. The company

decreases

its portfolio allocation to AYI by 4.64% in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 977,000 shares representing 3.09% ownership of the company. In its previous filing, the company said it held 982,000 shares, representing
a decrease
by 0.49%. The company

decreases

its portfolio allocation to AYI by 3.35% over the last quarter.

JMVSX – JPMorgan Mid Cap Value Fund Class I holds 963,000 shares representing 3.04% ownership of the company. In its previous filing, the company said it held 983,000 shares, representing
a decrease
2.10%. The company

decreases

its portfolio allocation to AYI by 2.45% in the last quarter.

General information about Acuity brands
(This description is provided by the company.)

Acuity Brands, Inc. is a market-leading industrial technology company. The company designs, manufactures and markets products and services that make the world brighter, more productive and connected, including building management systems, lighting, lighting controls and location-based applications. Acuity Brands achieves growth through the development of new, innovative products and services. Through the Acuity Business System, Acuity Brands achieves customer-focused efficiencies that enable the company to increase market share and deliver superior returns. The company seeks to aggressively deploy capital to grow its business and enter attractive new vertical markets. Acuity Brands is based in Atlanta, Georgia, with operations in North America, Europe and Asia. The company is powered by approximately 11,000 dedicated and talented associates.

This story originally appeared on Fintel.

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