Lindsay Co. (NYSE:LNN) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its position in Lindsay Co. (NYSE:LNN - Free Report) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 363,853 shares of the industrial products company's stock after selling 40,848 shares during the quarter. Royce & Associates LP owned 3.35% of Lindsay worth $43,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LNN. AlphaQuest LLC purchased a new stake in Lindsay in the fourth quarter worth about $32,000. US Bancorp DE lifted its position 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 worth $33,000 after purchasing an additional 84 shares during the period. GAMMA Investing LLC boosted its stake in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. Global Retirement Partners LLC raised its stake in Lindsay by 10.3% in the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock worth $109,000 after buying an additional 86 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Lindsay by 73.1% in the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock worth $175,000 after buying an additional 623 shares in the last quarter. Institutional investors own 89.94% of the company's stock.

Lindsay Stock Down 1.0 %

Shares of LNN stock traded down $1.28 during trading hours on Thursday, reaching $127.67. 45,008 shares of the company's stock were exchanged, compared to its average volume of 83,358. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $140.27. The stock's 50 day moving average is $131.88 and its 200-day moving average is $126.23. 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 cap of $1.39 billion, a price-to-earnings ratio of 20.49 and a beta of 0.70.

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Lindsay (NYSE:LNN - Get Free Report) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (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 analyst estimates of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Friday, February 14th. Lindsay's dividend payout ratio (DPR) is presently 23.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com upgraded Lindsay from a "hold" rating to a "buy" rating in a report on Wednesday. Stifel Nicolaus increased their price target 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.

Lindsay Company 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.