Impax Asset Management Group plc Sells 2,145 Shares of Lindsay Co. (NYSE:LNN)

Impax Asset Management Group plc reduced its holdings in shares of Lindsay Co. (NYSE:LNN) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 72,608 shares of the industrial products company’s stock after selling 2,145 shares during the period. Impax Asset Management Group plc’s holdings in Lindsay were worth $9,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Lindsay during the 2nd quarter worth $1,327,000. Victory Capital Management Inc. increased its holdings in Lindsay by 139.4% in the 2nd quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock worth $1,446,000 after purchasing an additional 6,853 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in Lindsay in the 2nd quarter worth about $6,402,000. Panagora Asset Management Inc. acquired a new position in Lindsay in the 2nd quarter worth about $2,111,000. Finally, XTX Topco Ltd acquired a new position in Lindsay in the 2nd quarter worth about $500,000. 89.94% of the stock is currently owned by institutional investors.

Lindsay Price Performance

Shares of LNN opened at $123.25 on Friday. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $135.05. The business has a 50-day simple moving average of $121.52 and a two-hundred day simple moving average of $119.26. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.34 billion, a PE ratio of 20.47 and a beta of 0.61.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $145.37 million. During the same quarter in the prior year, the firm earned $1.74 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Analysts anticipate that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. Lindsay’s payout ratio is 23.92%.

Lindsay Company Profile

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.