First Trust Advisors LP lowered its position in Lindsay Co. (NYSE:LNN – Get Rating) by 13.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,543 shares of the industrial products company's stock after selling 19,211 shares during the quarter. First Trust Advisors LP owned about 1.13% of Lindsay worth $17,701,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of Lindsay by 2,100.0% in the third quarter. US Bancorp DE now owns 264 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 252 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Lindsay in the third quarter valued at about $61,000. Point72 Hong Kong Ltd purchased a new position in Lindsay during the third quarter worth about $64,000. Royal Bank of Canada boosted its stake in Lindsay by 23.6% during the third quarter. Royal Bank of Canada now owns 514 shares of the industrial products company's stock worth $74,000 after buying an additional 98 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Lindsay by 75.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 627 shares of the industrial products company's stock worth $89,000 after buying an additional 269 shares during the period. Hedge funds and other institutional investors own 84.79% of the company's stock.
Get Lindsay alerts:Lindsay Trading Down 1.9 %
Shares of LNN stock opened at $146.87 on Friday. The company has a 50-day moving average of $153.85 and a two-hundred day moving average of $159.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 1.97. Lindsay Co. has a 1-year low of $116.77 and a 1-year high of $183.08. The firm has a market cap of $1.62 billion, a PE ratio of 21.38 and a beta of 0.62.
Lindsay (NYSE:LNN – Get Rating) last posted its quarterly earnings data on Thursday, January 5th. The industrial products company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.25 by $0.40. Lindsay had a net margin of 9.71% and a return on equity of 19.74%. The business had revenue of $176.20 million during the quarter, compared to analyst estimates of $178.10 million. During the same quarter last year, the firm posted $0.72 earnings per share. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts predict that Lindsay Co. will post 6.95 EPS for the current year.
Lindsay Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Monday, February 13th. Lindsay's payout ratio is 19.80%.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Lindsay from a "buy" rating to a "hold" rating in a research note on Friday, February 10th.
Lindsay Company Profile
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Lindsay Corp. engages in the manufacture and distribution of irrigation and infrastructure equipment and technology. It operates through the Irrigation and Infrastructure segments. The Irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications.
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