Renaissance Technologies LLC lifted its holdings in shares of Lindsay Co. (NYSE:LNN) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 448,800 shares of the industrial products company’s stock after purchasing an additional 108,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Lindsay were worth $39,584,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Lindsay by 7.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 79,352 shares of the industrial products company’s stock worth $7,293,000 after purchasing an additional 5,184 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Lindsay by 14.5% during the 3rd quarter. Schroder Investment Management Group now owns 49,542 shares of the industrial products company’s stock worth $4,546,000 after purchasing an additional 6,282 shares during the last quarter. Prentiss Smith & Co. Inc. increased its stake in shares of Lindsay by 110.0% during the 4th quarter. Prentiss Smith & Co. Inc. now owns 66,114 shares of the industrial products company’s stock worth $5,831,000 after purchasing an additional 34,637 shares during the last quarter. Impax Asset Management LTD increased its stake in shares of Lindsay by 5.8% during the 3rd quarter. Impax Asset Management LTD now owns 495,868 shares of the industrial products company’s stock worth $45,570,000 after purchasing an additional 27,117 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Lindsay during the 3rd quarter worth $261,000. Institutional investors own 92.02% of the company’s stock.
Shares of Lindsay Co. (NYSE:LNN) opened at $92.65 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.24 and a current ratio of 3.29. The stock has a market cap of $993.30, a price-to-earnings ratio of 38.93, a P/E/G ratio of 2.00 and a beta of 0.36. Lindsay Co. has a 1-year low of $79.03 and a 1-year high of $96.22.
Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). The firm had revenue of $124.53 million for the quarter, compared to the consensus estimate of $117.11 million. Lindsay had a return on equity of 9.65% and a net margin of 4.79%. Lindsay’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. analysts anticipate that Lindsay Co. will post 3.09 earnings per share for the current year.
In other Lindsay news, Director Bill Welsh sold 800 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $90.20, for a total value of $72,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Downing sold 26,265 shares of the stock in a transaction on 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. Over the last ninety days, insiders have sold 58,281 shares of company stock valued at $5,033,499. 3.10% of the stock is owned by insiders.
Several analysts recently issued reports on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $91.00 price objective on shares of Lindsay in a report on Thursday, December 14th. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c” rating in a report on Tuesday, January 9th. Finally, Zacks Investment Research downgraded shares of Lindsay from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.25.
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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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