Exchange Traded Concepts LLC Cuts Position in Lindsay Co. (NYSE:LNN)

Exchange Traded Concepts LLC trimmed its holdings in shares of Lindsay Co. (NYSE:LNN - Free Report) by 55.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,335 shares of the industrial products company's stock after selling 5,334 shares during the quarter. Exchange Traded Concepts LLC's holdings in Lindsay were worth $513,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. US Bancorp DE raised its stake in shares of Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company's stock worth $33,000 after acquiring an additional 84 shares in the last quarter. GAMMA Investing LLC grew its holdings in Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after purchasing an additional 131 shares during the last quarter. CWM LLC increased its position in shares of Lindsay by 16.8% during the third quarter. CWM LLC now owns 638 shares of the industrial products company's stock worth $80,000 after purchasing an additional 92 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Lindsay by 1,283.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company's stock valued at $340,000 after purchasing an additional 2,567 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Lindsay by 6.8% during the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company's stock valued at $392,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on LNN shares. StockNews.com upgraded Lindsay from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Stifel Nicolaus lifted their target price on shares of Lindsay from $126.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, January 8th.

Lindsay Stock Performance

LNN traded down $2.75 on Monday, reaching $131.44. 47,114 shares of the stock were exchanged, compared to its average volume of 81,848. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The company's 50-day moving average price is $128.11 and its 200 day moving average price is $123.85. The firm has a market capitalization of $1.43 billion, a PE ratio of 21.11 and a beta of 0.66. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $140.26.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.18. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. Lindsay's payout ratio is currently 23.11%.

Lindsay 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.