Stephens Investment Management Group LLC reduced its stake in Lindsay Co. (NYSE:LNN – Get Rating) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,764 shares of the industrial products company’s stock after selling 1,850 shares during the period. Stephens Investment Management Group LLC owned 0.95% of Lindsay worth $15,011,000 at the end of the most recent reporting period.
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A number of other institutional investors also recently bought and sold shares of LNN. US Bancorp DE raised its stake in Lindsay by 2,100.0% in the third quarter. US Bancorp DE now owns 264 shares of the industrial products company’s stock worth $38,000 after buying an additional 252 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Lindsay during the third quarter valued at approximately $61,000. Allspring Global Investments Holdings LLC increased its stake in shares of Lindsay by 75.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 627 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 269 shares in the last quarter. Baldwin Brothers LLC MA increased its stake in shares of Lindsay by 30.0% during the third quarter. Baldwin Brothers LLC MA now owns 650 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 150 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Lindsay by 21.3% during the first quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 199 shares in the last quarter. 84.79% of the stock is owned by institutional investors.
Lindsay Price Performance
Shares of LNN opened at $153.21 on Friday. The company has a market capitalization of $1.69 billion, a P/E ratio of 22.30 and a beta of 0.63. The company has a quick ratio of 1.97, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $164.05 and a 200 day moving average of $158.87. Lindsay Co. has a twelve month low of $116.77 and a twelve month high of $183.08.
Lindsay (NYSE:LNN – Get Rating) last announced its quarterly earnings results on Thursday, January 5th. The industrial products company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.40. The company had revenue of $176.20 million during the quarter, compared to the consensus estimate of $178.10 million. Lindsay had a net margin of 9.71% and a return on equity of 19.74%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, equities research analysts anticipate that Lindsay Co. will post 6.95 earnings per share for the current fiscal year.
Lindsay Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, February 13th. Lindsay’s dividend payout ratio is currently 19.80%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on LNN. Stifel Nicolaus decreased their target price on shares of Lindsay from $176.00 to $173.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, November 11th.
Lindsay Corp. engages in the manufacture and distribution of irrigation and infrastructure equipment and technology. It operates through the Irrigation and Infrastructure segments. The Irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications.
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