Legal & General Group Plc Decreases Stock Holdings in Lindsay Co. (NYSE:LNN)

Legal & General Group Plc lowered its position in Lindsay Co. (NYSE:LNN) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 108,134 shares of the industrial products company’s stock after selling 1,062 shares during the period. Legal & General Group Plc’s holdings in Lindsay were worth $12,793,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LNN. Barclays PLC grew its holdings in Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock worth $2,446,000 after purchasing an additional 13,986 shares during the last quarter. GAMMA Investing LLC increased its position in Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after buying an additional 131 shares in the last quarter. SG Americas Securities LLC raised its stake in Lindsay by 746.5% in the fourth quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock valued at $6,168,000 after buying an additional 45,979 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Lindsay in the fourth quarter worth about $679,000. Finally, KBC Group NV grew its stake in shares of Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock worth $41,233,000 after acquiring an additional 5,382 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

Shares of NYSE LNN opened at $124.93 on Thursday. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $140.27. The business’s 50 day moving average price is $129.00 and its 200 day moving average price is $126.94. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.36 billion, a P/E ratio of 20.05 and a beta of 0.72.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same period in the prior year, the firm earned $1.64 EPS. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, sell-side analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. Lindsay’s payout ratio is currently 20.48%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LNN. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Stifel Nicolaus reduced their target price on Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a research note on Wednesday.

Lindsay 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.