Pier Capital LLC Decreases Stock Holdings in Lindsay Co. (NYSE:LNN)

Pier Capital LLC trimmed its position in shares of Lindsay Co. (NYSE:LNN - Free Report) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,398 shares of the industrial products company's stock after selling 11,848 shares during the quarter. Pier Capital LLC owned 0.55% of Lindsay worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Lightrock Netherlands B.V. bought a new position in Lindsay in the fourth quarter valued at about $11,396,000. SG Americas Securities LLC lifted its stake in shares of Lindsay by 746.5% in the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock worth $6,168,000 after purchasing an additional 45,979 shares during the period. Jennison Associates LLC purchased a new position in shares of Lindsay in the fourth quarter worth approximately $5,088,000. Wellington Management Group LLP grew its position in Lindsay by 35.4% during the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company's stock valued at $17,222,000 after buying an additional 36,128 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Lindsay by 46.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 74,950 shares of the industrial products company's stock valued at $9,342,000 after buying an additional 23,710 shares during the last quarter. Institutional investors own 89.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LNN shares. Stifel Nicolaus boosted their price objective on shares of Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, January 8th. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th.

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Lindsay Price Performance

Shares of LNN stock traded down $4.43 on Friday, hitting $126.55. 49,919 shares of the stock traded hands, compared to its average volume of 85,855. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 20.31 and a beta of 0.70. 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 firm has a 50 day simple moving average of $132.00 and a two-hundred day simple moving average of $126.77. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $140.27.

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

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid 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 1.14%. Lindsay's payout ratio is 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.