Lindsay Co. (NYSE:LNN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Lindsay Co. (NYSE:LNN) by 17.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 26,290 shares of the industrial products company’s stock after selling 5,578 shares during the period. New York State Common Retirement Fund’s holdings in Lindsay were worth $3,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. GAMMA Investing LLC increased its stake in Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares during the last quarter. Van ECK Associates Corp increased its stake in Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 623 shares during the last quarter. Quadrature Capital Ltd increased its stake in Lindsay by 6.8% during the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock worth $392,000 after acquiring an additional 200 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Lindsay by 109.4% during the third quarter. Intech Investment Management LLC now owns 4,105 shares of the industrial products company’s stock worth $512,000 after acquiring an additional 2,145 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Stock Performance

Shares of NYSE:LNN opened at $131.76 on Friday. The company has a market cap of $1.43 billion, a P/E ratio of 21.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. Lindsay Co. has a one year low of $109.27 and a one year high of $140.26. The business’s 50-day simple moving average is $129.42 and its 200 day simple moving average is $125.51.

Lindsay (NYSE:LNN) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.09%. Lindsay’s dividend payout ratio (DPR) is presently 23.11%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a report on Monday, February 17th.

About Lindsay

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.