Lindsay Co. (NYSE:LNN) Shares Sold by Amundi

Amundi lowered its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 54.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,511 shares of the industrial products company's stock after selling 247,412 shares during the period. Amundi owned approximately 1.90% of Lindsay worth $24,589,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Candriam S.C.A. raised its holdings in shares of Lindsay by 31.9% in the 4th quarter. Candriam S.C.A. now owns 35,174 shares of the industrial products company's stock worth $4,161,000 after purchasing an additional 8,499 shares during the period. Raymond James Financial Inc. acquired a new stake in Lindsay in the 4th quarter valued at $611,000. Keybank National Association OH raised its position in Lindsay by 23.5% in the fourth quarter. Keybank National Association OH now owns 3,775 shares of the industrial products company's stock valued at $447,000 after purchasing an additional 718 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lindsay by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,092 shares of the industrial products company's stock worth $16,338,000 after purchasing an additional 5,140 shares in the last quarter. Finally, John G Ullman & Associates Inc. boosted its position in shares of Lindsay by 0.8% in the fourth quarter. John G Ullman & Associates Inc. now owns 59,375 shares of the industrial products company's stock worth $7,025,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 89.94% of the company's stock.

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Lindsay Stock Down 0.3 %

Shares of Lindsay stock traded down $0.44 during trading hours on Monday, hitting $130.03. 62,772 shares of the company's stock traded hands, compared to its average volume of 83,727. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.27. The stock has a 50 day simple moving average of $131.32 and a 200-day simple moving average of $126.13. The company has a market cap of $1.41 billion, a PE ratio of 20.87 and a beta of 0.70.

Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.36 EPS. Equities research analysts anticipate that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, February 14th. Lindsay's dividend payout ratio is presently 23.11%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LNN. StockNews.com downgraded Lindsay from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Stifel Nicolaus lifted their price objective on shares of Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.