Pier Capital LLC Has $8.88 Million Stake in Lindsay Co. (NYSE:LNN)

Pier Capital LLC lifted its position in Lindsay Co. (NYSE:LNN - Free Report) by 19.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,246 shares of the industrial products company's stock after buying an additional 11,446 shares during the quarter. Lindsay comprises 1.3% of Pier Capital LLC's investment portfolio, making the stock its 20th largest holding. Pier Capital LLC owned 0.66% of Lindsay worth $8,880,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. US Bancorp DE boosted its position 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 purchasing an additional 84 shares during the period. CWM LLC boosted its position in 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 during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Lindsay by 1.8% during the second 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 during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Lindsay by 6.8% during the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company's stock worth $392,000 after buying an additional 200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Lindsay by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,278 shares of the industrial products company's stock worth $1,263,000 after buying an additional 347 shares during the last quarter. Institutional investors own 89.94% of the company's stock.

Lindsay Stock Performance

Shares of LNN stock traded up $0.32 during trading hours on Friday, reaching $129.72. 53,286 shares of the company's stock were exchanged, compared to its average volume of 74,961. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $135.20. The stock has a market capitalization of $1.41 billion, a P/E ratio of 21.55 and a beta of 0.64. The business has a fifty day moving average price of $124.15 and a 200-day moving average price of $120.52. 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 results on Thursday, October 24th. The industrial products company reported $1.17 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $145.37 million. During the same period in the previous year, the company earned $1.74 earnings per share. The company's quarterly revenue was down 7.2% compared to the same quarter last year. Analysts predict that Lindsay Co. will post 5.66 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.11%. Lindsay's dividend payout ratio (DPR) is presently 23.92%.

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.