Lindsay Co. (NYSE:LNN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Lindsay Co. (NYSE:LNN - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,393 shares of the industrial products company's stock after selling 7,741 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.22% of Lindsay worth $2,768,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. AlphaQuest LLC acquired a new position in Lindsay in the fourth quarter valued at approximately $32,000. GAMMA Investing LLC boosted its position 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. US Bancorp DE increased 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 buying an additional 84 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Lindsay by 10.3% during the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock worth $109,000 after purchasing an additional 86 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 623 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com lowered Lindsay from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Stifel Nicolaus lifted their target price 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 Price Performance

NYSE LNN traded down $0.69 during trading hours on Wednesday, reaching $128.60. The company's stock had a trading volume of 38,155 shares, compared to its average volume of 74,516. The firm's 50-day moving average price is $131.76 and its 200-day moving average price is $126.22. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.26. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.64 and a beta of 0.70. 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 (NYSE:LNN - Get Free Report) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 EPS. On average, equities research analysts predict that Lindsay Co. will post 5.82 EPS 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 paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.44 annualized dividend and a yield of 1.12%. Lindsay's dividend payout ratio (DPR) is 23.11%.

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.