Lindsay Co. (NYSE:LNN) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,603 shares of the industrial products company's stock after selling 2,502 shares during the period. Rhumbline Advisers owned about 0.31% of Lindsay worth $3,976,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LNN. Lightrock Netherlands B.V. purchased a new position in shares of Lindsay during the 4th quarter valued at $11,396,000. KBC Group NV lifted its position in shares of Lindsay by 32.7% in the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company's stock valued at $42,768,000 after acquiring an additional 84,560 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Lindsay by 746.5% during the fourth 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 in the last quarter. Jennison Associates LLC bought a new position in Lindsay in the 4th quarter worth approximately $5,088,000. Finally, Wellington Management Group LLP increased its holdings in Lindsay by 35.4% in the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company's stock valued at $17,222,000 after acquiring an additional 36,128 shares during the last quarter. Institutional investors own 89.94% of the company's stock.

Lindsay Stock Down 0.7 %

Shares of LNN traded down $0.94 during trading hours on Tuesday, hitting $127.50. The company had a trading volume of 35,174 shares, compared to its average volume of 74,039. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.39 billion, a PE ratio of 20.50 and a beta of 0.67. Lindsay Co. has a one year low of $109.27 and a one year high of $140.26. The company's fifty day moving average price is $129.55 and its two-hundred day moving average price is $125.68.

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Lindsay (NYSE:LNN - Get Free Report) last released 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. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. During the same period in the prior year, the firm posted $1.36 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, February 14th. Lindsay's payout ratio is presently 23.11%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LNN. StockNews.com lowered Lindsay from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Stifel Nicolaus raised their price target on Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th.

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.