Lindsay Co. (NYSE:LNN) Shares Purchased by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 46.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,950 shares of the industrial products company's stock after acquiring an additional 23,710 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.69% of Lindsay worth $9,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of LNN. Lombard Odier Asset Management Europe Ltd purchased a new position in Lindsay during the second quarter worth about $1,327,000. Atom Investors LP acquired a new position in shares of Lindsay during the 3rd quarter worth $731,000. Victory Capital Management Inc. grew its position in Lindsay by 139.4% during the second quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company's stock worth $1,446,000 after buying an additional 6,853 shares during the period. Deprince Race & Zollo Inc. purchased a new position in Lindsay in the second quarter valued at about $6,402,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Lindsay during the 2nd quarter valued at approximately $2,111,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Price Performance

Shares of LNN traded down $1.25 on Thursday, reaching $129.40. The stock had a trading volume of 48,283 shares, compared to its average volume of 88,055. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $135.20. The firm has a market capitalization of $1.40 billion, a PE ratio of 21.70 and a beta of 0.64. The firm has a 50-day moving average of $123.90 and a 200 day moving average of $120.33. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24.

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

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given 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, November 15th. Lindsay's dividend payout ratio 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.