UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Lindsay Co. (NYSE:LNN - Free Report) by 28.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,832 shares of the industrial products company's stock after selling 13,623 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Lindsay worth $4,217,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of LNN. SG Americas Securities LLC bought a new position in Lindsay in the 2nd quarter valued at approximately $279,000. Louisiana State Employees Retirement System increased its stake in shares of Lindsay by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the industrial products company's stock worth $688,000 after purchasing an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lindsay by 868.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company's stock valued at $2,953,000 after purchasing an additional 21,551 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Lindsay in the second quarter worth about $2,111,000. Finally, Rhumbline Advisers raised its stake in Lindsay by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 37,082 shares of the industrial products company's stock worth $4,557,000 after acquiring an additional 1,013 shares during the period. 89.94% of the stock is currently owned by hedge funds and other institutional investors.
Lindsay Price Performance
Shares of LNN traded down $0.13 during trading hours on Friday, reaching $130.62. 130,458 shares of the stock traded hands, compared to its average volume of 87,551. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $135.20. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.42 billion, a P/E ratio of 21.72 and a beta of 0.64. The company's 50-day moving average price is $124.72 and its two-hundred day moving average price is $120.92.
Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.16. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The business had revenue of $155.00 million during the quarter, compared to the consensus estimate of $145.37 million. During the same period in the prior year, the company posted $1.74 EPS. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. On average, analysts anticipate that Lindsay Co. will post 5.64 earnings per share for the current year.
Lindsay Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given 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 1.10%. Lindsay's payout ratio is 23.92%.
About Lindsay
(
Free Report)
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.
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