Bank of New York Mellon Corp Trims Stock Position in Lindsay Co. (NYSE:LNN)

Bank of New York Mellon Corp trimmed its position in Lindsay Co. (NYSE:LNN - Free Report) by 37.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,312 shares of the industrial products company's stock after selling 60,087 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.91% of Lindsay worth $11,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE raised its holdings in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company's stock worth $33,000 after purchasing an additional 84 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Lindsay during the 3rd quarter worth $754,000. KBC Group NV lifted its position in Lindsay by 32.7% in the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company's stock valued at $42,768,000 after acquiring an additional 84,560 shares during the last quarter. Royce & Associates LP boosted its stake in Lindsay by 1.6% in the third quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company's stock valued at $50,442,000 after acquiring an additional 6,253 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Lindsay by 109.4% during the third quarter. Intech Investment Management LLC now owns 4,105 shares of the industrial products company's stock worth $512,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

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Lindsay Stock Performance

LNN stock traded down $0.44 during trading on Monday, hitting $130.03. The company had a trading volume of 62,772 shares, compared to its average volume of 83,727. The firm has a 50-day moving average price of $131.32 and a 200-day moving average price of $126.13. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.41 billion, a PE ratio of 20.87 and a beta of 0.70. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.27.

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

Lindsay Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LNN. Stifel Nicolaus boosted their target price on Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, January 8th. StockNews.com cut Lindsay from a "buy" rating to a "hold" rating in a research note on Monday, February 17th.

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.