State of Wisconsin Investment Board trimmed its holdings in shares of Lindsay Co. (NYSE:LNN) by 11.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,950 shares of the industrial products company’s stock after selling 4,000 shares during the period. State of Wisconsin Investment Board’s holdings in Lindsay were worth $4,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Great West Life Assurance Co. Can increased its position in shares of Lindsay by 1,836.8% during the third quarter. Great West Life Assurance Co. Can now owns 260,890 shares of the industrial products company’s stock worth $2,638,000 after purchasing an additional 247,420 shares in the last quarter. KBC Group NV increased its position in shares of Lindsay by 3.3% during the third quarter. KBC Group NV now owns 147,569 shares of the industrial products company’s stock worth $14,267,000 after purchasing an additional 4,764 shares in the last quarter. First Trust Advisors LP increased its position in shares of Lindsay by 16.9% during the fourth quarter. First Trust Advisors LP now owns 80,772 shares of the industrial products company’s stock worth $10,376,000 after purchasing an additional 11,658 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Lindsay during the third quarter worth about $7,584,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Lindsay during the first quarter worth about $5,697,000. 87.18% of the stock is owned by institutional investors.
In related news, Director Michael Christodolou sold 9,000 shares of the business’s stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $140.44, for a total value of $1,263,960.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.
LNN opened at $164.27 on Tuesday. The business’s 50-day simple moving average is $148.11 and its 200-day simple moving average is $118.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.37 and a current ratio of 3.48. Lindsay Co. has a one year low of $71.86 and a one year high of $167.27. The stock has a market capitalization of $1.78 billion, a P/E ratio of 47.75 and a beta of 0.32.
Lindsay (NYSE:LNN) last posted its earnings results on Wednesday, January 6th. The industrial products company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.10). Lindsay had a return on equity of 12.26% and a net margin of 7.89%. The firm had revenue of $108.50 million for the quarter, compared to analyst estimates of $113.07 million. During the same quarter last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts forecast that Lindsay Co. will post 3.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 26th. Investors of record on Friday, February 12th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, February 11th. Lindsay’s dividend payout ratio (DPR) is presently 35.96%.
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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 and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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