Royce & Associates LP Boosts Stake in Lindsay Co. (NYSE:LNN)

Royce & Associates LP raised its holdings in shares of Lindsay Co. (NYSE:LNN - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 404,701 shares of the industrial products company's stock after acquiring an additional 6,253 shares during the period. Royce & Associates LP owned approximately 3.73% of Lindsay worth $50,442,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. KBC Group NV raised its position in Lindsay by 32.7% during 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. GSA Capital Partners LLP purchased a new position in shares of Lindsay during the 3rd quarter valued at approximately $754,000. US Bancorp DE lifted its stake in shares of Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 84 shares during the period. Cardinal Capital Management lifted its stake in shares of Lindsay by 12.0% in the 3rd quarter. Cardinal Capital Management now owns 15,683 shares of the industrial products company's stock valued at $1,955,000 after purchasing an additional 1,684 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in Lindsay by 222.6% during the third quarter. Exchange Traded Concepts LLC now owns 9,669 shares of the industrial products company's stock worth $1,205,000 after buying an additional 6,672 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Performance

LNN traded down $1.17 on Friday, reaching $123.24. The stock had a trading volume of 62,546 shares, compared to its average volume of 88,641. The business's 50-day moving average price is $121.35 and its two-hundred day moving average price is $119.22. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $135.05. The company has a market cap of $1.34 billion, a P/E ratio of 20.67 and a beta of 0.61.

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

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is 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.