Royce & Associates LP cut its stake in Lindsay Co. (NYSE:LNN) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 955,690 shares of the industrial products company’s stock after selling 14,427 shares during the quarter. Lindsay makes up approximately 0.6% of Royce & Associates LP’s portfolio, making the stock its 26th largest holding. Royce & Associates LP owned approximately 8.92% of Lindsay worth $84,292,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in Lindsay in the 2nd quarter valued at about $205,000. OxFORD Asset Management LLP purchased a new position in Lindsay in the 2nd quarter valued at about $219,000. Crossmark Global Holdings Inc. purchased a new position in Lindsay in the 3rd quarter valued at about $224,000. Dynamic Technology Lab Private Ltd purchased a new position in Lindsay in the 3rd quarter valued at about $246,000. Finally, Victory Capital Management Inc. purchased a new position in Lindsay in the 3rd quarter valued at about $261,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. TheStreet lowered shares of Lindsay from a “b-” rating to a “c” rating in a research note on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 price target on shares of Lindsay in a research note on Thursday, December 14th. Finally, Zacks Investment Research lowered shares of Lindsay from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Lindsay currently has an average rating of “Hold” and a consensus target price of $95.25.
Shares of Lindsay Co. (NYSE:LNN) opened at $92.72 on Friday. The company has a market cap of $994.52, a PE ratio of 38.96, a price-to-earnings-growth ratio of 2.00 and a beta of 0.36. The company has a quick ratio of 2.24, a current ratio of 3.29 and a debt-to-equity ratio of 0.43. Lindsay Co. has a 1-year low of $77.14 and a 1-year high of $96.22.
Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). The business had revenue of $124.53 million during the quarter, compared to analyst estimates of $117.11 million. Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. equities research analysts expect that Lindsay Co. will post 3.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. Lindsay’s payout ratio is 50.42%.
In other Lindsay news, Director Bill Welsh sold 800 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $90.20, for a total value of $72,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David B. Downing sold 26,265 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.14, for a total transaction of $2,262,467.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,281 shares of company stock valued at $5,033,499. 3.10% of the stock is owned by insiders.
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Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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