Victory Capital Management Inc. Sells 556 Shares of Lindsay Co. (NYSE:LNN)

Victory Capital Management Inc. trimmed its position in Lindsay Co. (NYSE:LNNFree Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,655 shares of the industrial products company’s stock after selling 556 shares during the quarter. Victory Capital Management Inc.’s holdings in Lindsay were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LNN. McGlone Suttner Wealth Management Inc. acquired a new stake in Lindsay in the fourth quarter valued at approximately $28,000. CWM LLC boosted its position in Lindsay by 129.6% in the fourth quarter. CWM LLC now owns 489 shares of the industrial products company’s stock valued at $63,000 after buying an additional 276 shares in the last quarter. Windmill Hill Asset Management Ltd acquired a new stake in Lindsay in the fourth quarter valued at approximately $208,000. Hsbc Holdings PLC acquired a new stake in Lindsay in the third quarter valued at approximately $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lindsay by 48.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,332 shares of the industrial products company’s stock valued at $274,000 after buying an additional 756 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

Lindsay Trading Down 1.5 %

LNN opened at $114.09 on Friday. Lindsay Co. has a 1-year low of $106.46 and a 1-year high of $137.31. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.26 billion, a P/E ratio of 18.20 and a beta of 0.63. The company has a fifty day moving average price of $116.53 and a two-hundred day moving average price of $122.59.

Lindsay (NYSE:LNNGet Free Report) last posted its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The firm had revenue of $151.50 million during the quarter, compared to the consensus estimate of $172.06 million. During the same period in the previous year, the firm posted $1.63 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. Analysts predict that Lindsay Co. will post 5.3 EPS for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, May 16th. Lindsay’s dividend payout ratio (DPR) is currently 22.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LNN shares. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.33.

View Our Latest Research Report on Lindsay

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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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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