According to a newly released SEC filing, Acuity Brands Executive Vice-President Mark Black sold more than 7,400 shares of company stock on November 3, for a total value of $1,200,382.12. The company stock value has dropped about $3 a share since the transaction. Black still owns more than 30,000 shares of Acuity Brands stock.
According to the company’s website, Black came to the Acuity Brands management team in September 2006. Prior to joining Acuity Brands, he served as an independent consultant for “Lean’ principles and implementation from September 2003 until August 2006. His background has been focused on the implementation of a lean strategy in varied organizations, and he has helped each to significantly improve its overall performance. Prior to becoming an independent consultant, Mr. Black was President of CPM, Inc. He has an Electronics Engineering degree and a Physics degree from Guilford College, Greensboro, NC.
In the past year, Acuity Brands stock has peaked at $261 a share, and hit a 52 week low of $153.
Acuity announced it quarterly earnings report on October 4. It reported $2.55 earnings per share, which was about 25 cents higher than analyst predictions. The quarterly report said Acuity’s revenue of $957.60 million was below analyst estimates of $975.05 million. But, revenue was also up 3.5% year to year.
Analysts have a wide range of predictions for the Acuity stock, between $130 a share and $200.
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