First Trust Advisors LP decreased its position in shares of Lindsay Co. (NYSE:LNN) by 16.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 99,167 shares of the industrial products company’s stock after selling 19,792 shares during the period. First Trust Advisors LP owned 0.91% of Lindsay worth $9,144,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in LNN. Amundi Pioneer Asset Management Inc. acquired a new position in Lindsay during the first quarter worth approximately $5,697,000. UBS Group AG increased its position in Lindsay by 30.4% during the fourth quarter. UBS Group AG now owns 22,907 shares of the industrial products company’s stock worth $2,199,000 after purchasing an additional 5,340 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Lindsay by 128.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 23,380 shares of the industrial products company’s stock worth $2,244,000 after purchasing an additional 13,134 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Lindsay by 12.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 9,031 shares of the industrial products company’s stock worth $867,000 after purchasing an additional 978 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Lindsay by 44.9% during the fourth quarter. Bank of America Corp DE now owns 23,260 shares of the industrial products company’s stock worth $2,232,000 after purchasing an additional 7,203 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on LNN shares. Sidoti lowered shares of Lindsay from a “buy” rating to a “neutral” rating and set a $91.00 price target for the company. in a research report on Tuesday, April 7th. ValuEngine lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, TheStreet raised shares of Lindsay from a “c+” rating to a “b-” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Lindsay presently has an average rating of “Hold” and an average target price of $97.00.
Lindsay stock opened at $96.97 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 35.56 and a beta of 0.29. The firm has a fifty day moving average of $93.33 and a 200-day moving average of $95.29. The company has a quick ratio of 2.11, a current ratio of 3.16 and a debt-to-equity ratio of 0.41. Lindsay Co. has a 52-week low of $71.86 and a 52-week high of $111.76.
Lindsay (NYSE:LNN) last announced its earnings results on Thursday, July 2nd. The industrial products company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.05. The business had revenue of $123.10 million during the quarter, compared to the consensus estimate of $123.52 million. Lindsay had a net margin of 5.68% and a return on equity of 10.81%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, research analysts expect that Lindsay Co. will post 3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.32%. Lindsay’s dividend payout ratio (DPR) is presently 88.28%.
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's 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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