Sumitomo Mitsui Trust Group Inc. Sells 2,107 Shares of Lindsay Co. (NYSE:LNN)

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Lindsay Co. (NYSE:LNN - Free Report) by 20.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,239 shares of the industrial products company's stock after selling 2,107 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.08% of Lindsay worth $975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in Lindsay during the 4th quarter valued at approximately $5,088,000. KBC Group NV increased its position in Lindsay by 1.6% during the 4th quarter. KBC Group NV now owns 348,514 shares of the industrial products company's stock valued at $41,233,000 after purchasing an additional 5,382 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Lindsay during the 4th quarter valued at approximately $679,000. SG Americas Securities LLC grew its position in shares of Lindsay by 746.5% during the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock worth $6,168,000 after buying an additional 45,979 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 89.94% of the company's stock.

Analyst Upgrades and Downgrades

LNN has been the subject of several recent analyst reports. StockNews.com downgraded shares of Lindsay from a "buy" rating to a "hold" rating in a research report on Monday. Stifel Nicolaus raised their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th.

Lindsay Stock Performance

Shares of LNN stock traded up $3.07 during trading on Tuesday, hitting $136.14. The company's stock had a trading volume of 18,575 shares, compared to its average volume of 75,490. The company has a market cap of $1.48 billion, a PE ratio of 21.85 and a beta of 0.67. 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 business has a fifty day moving average of $128.12 and a 200-day moving average of $124.53. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $140.26.

Lindsay (NYSE:LNN - Get Free Report) last released 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 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%. Lindsay's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. As a group, research analysts anticipate that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, February 14th. Lindsay's dividend payout ratio is presently 23.11%.

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.