Stephens Investment Management Group LLC reduced its stake in Lindsay Co. (NYSE:LNN – Get Rating ) by 1.7% during 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.
A number of other institutional investors have also recently bought and sold shares of LNN. US Bancorp DE raised its stake in Lindsay by 2,100.0% during the third quarter. US Bancorp DE now owns 264 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 252 shares during 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 raised 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 buying an additional 269 shares during the last quarter. Baldwin Brothers LLC MA boosted its stake in shares of Lindsay by 30.0% in the third quarter. Baldwin Brothers LLC MA now owns 650 shares of the industrial products company’s stock valued at $93,000 after buying an additional 150 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Lindsay by 21.3% in 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 shares are owned by institutional investors.
Lindsay Price Performance
Shares of LNN stock opened at $153.21 on Friday. The company has a market cap 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, topping 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. In the same quarter last year, the firm earned $0.72 earnings per share. As a group, equities research analysts expect Lindsay Co. to 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 given a $0.34 dividend. This represents a $1.36 annual dividend and a yield of 0.89%. The ex-dividend date is Monday, February 13th. Lindsay’s dividend payout ratio is currently 19.80%.
Promote and demote an analyst
A number of brokerage houses opposed LNN. Stifel Nicolaus cut 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. is engaged in the production and distribution of equipment and technologies for irrigation and infrastructure. It operates through the Irrigation and Infrastructure segments. The Irrigation segment includes the manufacturing and marketing of center rotation, lateral movement and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation control, M2M communication technology and smartphone applications .
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