Lindsay Co. (NYSE:LNN) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC cut its holdings in Lindsay Co. (NYSE:LNNGet Rating) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 805,499 shares of the industrial products company’s stock after selling 22,385 shares during the quarter. Neuberger Berman Group LLC owned about 7.34% of Lindsay worth $126,471,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of LNN. Captrust Financial Advisors increased its stake in Lindsay by 21.3% in the first quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 199 shares during the period. Sei Investments Co. acquired a new position in Lindsay in the first quarter valued at $209,000. Annex Advisory Services LLC purchased a new stake in shares of Lindsay in the first quarter valued at about $223,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Lindsay in the first quarter valued at about $225,000. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Lindsay by 6.0% in the first quarter. Mutual of America Capital Management LLC now owns 1,580 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 89 shares in the last quarter. 85.33% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Stock Down 0.7 %

LNN stock opened at $151.13 on Friday. The company has a market cap of $1.66 billion, a P/E ratio of 31.16 and a beta of 0.51. Lindsay Co. has a 52 week low of $116.77 and a 52 week high of $171.69. The company’s 50-day moving average price is $154.10 and its 200 day moving average price is $142.57. The company has a current ratio of 2.74, a quick ratio of 1.61 and a debt-to-equity ratio of 0.30.

Lindsay (NYSE:LNNGet Rating) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.71. The firm had revenue of $214.30 million for the quarter, compared to the consensus estimate of $188.95 million. Lindsay had a net margin of 7.27% and a return on equity of 17.59%. The firm’s revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.61 earnings per share. On average, research analysts expect that Lindsay Co. will post 6.39 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. This is a boost from Lindsay’s previous quarterly dividend of $0.33. Lindsay’s payout ratio is presently 28.04%.

Wall Street Analysts Forecast Growth

LNN has been the topic of several analyst reports. Roth Capital lifted their target price on shares of Lindsay from $135.00 to $160.00 in a report on Monday, August 1st. Stifel Nicolaus lowered their target price on shares of Lindsay from $180.00 to $172.00 in a report on Wednesday, June 15th. Finally, Northcoast Research downgraded shares of Lindsay from a “buy” rating to a “neutral” rating in a report on Monday, August 15th.

Lindsay Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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