Dynamic Technology Lab Private Ltd Decreases Stake in Lindsay Co. (NYSE:LNN)

Dynamic Technology Lab Private Ltd lowered its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 71.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,334 shares of the industrial products company's stock after selling 5,787 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Lindsay were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNN. Price T Rowe Associates Inc. MD increased its stake in Lindsay by 7.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,459 shares of the industrial products company's stock valued at $643,000 after acquiring an additional 401 shares during the last quarter. Cardinal Capital Management grew its stake in shares of Lindsay by 5.0% in the second quarter. Cardinal Capital Management now owns 13,999 shares of the industrial products company's stock worth $1,720,000 after acquiring an additional 669 shares during the last quarter. SG Americas Securities LLC bought a new stake in Lindsay during the 2nd quarter valued at about $279,000. Louisiana State Employees Retirement System increased its holdings in Lindsay by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the industrial products company's stock worth $688,000 after buying an additional 100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lindsay by 868.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company's stock worth $2,953,000 after buying an additional 21,551 shares during the last quarter. Institutional investors own 89.94% of the company's stock.

Lindsay Price Performance

Shares of LNN traded down $0.09 during mid-day trading on Monday, reaching $132.68. The stock had a trading volume of 46,347 shares, compared to its average volume of 88,027. The business has a fifty day moving average of $123.44 and a 200 day moving average of $120.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. Lindsay Co. has a 12 month low of $109.27 and a 12 month high of $135.20. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 22.05 and a beta of 0.61.

Lindsay (NYSE:LNN - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.16. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The company had revenue of $155.00 million for the quarter, compared to analysts' expectations of $145.37 million. During the same period in the previous year, the firm posted $1.74 earnings per share. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts predict that Lindsay Co. will post 5.66 EPS for the current year.

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.36 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.44 annualized dividend and a yield of 1.09%. Lindsay's dividend payout ratio (DPR) is presently 23.92%.

About Lindsay

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.