First Mercantile Trust Co Lowers stake in Acuity Brands (AYI)

Acuity Brands (AYI) : First Mercantile Trust Co reduced its stake in Acuity Brands by 43.52% during the most recent quarter end. The investment management company now holds a total of 2,400 shares of Acuity Brands which is valued at $577,776 after selling 1,849 shares in Acuity Brands , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Acuity Brands makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network reduced its stake in AYI by selling 522 shares or 11.53% in the most recent quarter. The Hedge Fund company now holds 4,004 shares of AYI which is valued at $963,923. Acuity Brands makes up approx 0.18% of Advisory Services Network’s portfolio.Independent Portfolio Consultants boosted its stake in AYI in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 2,135 shares of Acuity Brands which is valued at $518,784. Acuity Brands makes up approx 0.16% of Independent Portfolio Consultants’s portfolio.Chevy Chase Trust Holdings reduced its stake in AYI by selling 817 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 36,674 shares of AYI which is valued at $8,911,415. Acuity Brands makes up approx 0.05% of Chevy Chase Trust Holdings’s portfolio.Washington Trust Bank boosted its stake in AYI in the latest quarter, The investment management firm added 16 additional shares and now holds a total of 36 shares of Acuity Brands which is valued at $8,748. Bath Savings Trust Co added AYI to its portfolio by purchasing 2,627 company shares during the most recent quarter which is valued at $638,335. Acuity Brands makes up approx 0.20% of Bath Savings Trust Co’s portfolio.

Acuity Brands closed down -3.23 points or -1.32% at $240.74 with 7,08,371 shares getting traded on Friday. Post opening the session at $243.48, the shares hit an intraday low of $240.405 and an intraday high of $245.04 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Acuity Brands reported $2.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Oct 5, 2016. Analyst had a consensus of $2.39. The company had revenue of $925.50 million for the quarter, compared to analysts expectations of $946.53 million. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS.

Investors should note that on Sep 30, 2016, Acuity Brands announced a cash dividend of $0.1300. The company’s management has announced Oct 14, 2016 as the ex-dividend date and fixed the record date on Oct 18, 2016. The payable date has been fixed on Nov 1, 2016.

Many Wall Street Analysts have commented on Acuity Brands. Williams Capital Group Initiated Acuity Brands on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $306.ROTH Capital Initiated Acuity Brands on Aug 25, 2016 to “Neutral”, Price Target of the shares are set at $275.

Acuity Brands Inc. (Acuity Brands) is the parent company of Acuity Brands Lighting Inc. (ABL) and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial institutional industrial infrastructure and residential applications throughout North America and select international markets. The Company’s lighting solutions include devices such as luminaires lighting controls power supplies prismatic skylights light-emitting diode (LED) lamps and integrated lighting systems for indoor and outdoor applications utilizing a combination of light sources including daylight and other devices controlled by software that monitors and manages light levels while optimizing energy consumption (collectively referred to herein as lighting solutions). On March 13 2013 the Company acquired eldoLED Europe BV.

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