State of New Jersey Common Pension Fund D Sells 4,039 Shares of Lindsay Co. (NYSE:LNN)

State of New Jersey Common Pension Fund D lessened its position in shares of Lindsay Co. (NYSE:LNNGet Rating) by 21.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,472 shares of the industrial products company’s stock after selling 4,039 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.13% of Lindsay worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Lindsay by 5.9% in the 1st quarter. BlackRock Inc. now owns 1,886,075 shares of the industrial products company’s stock worth $296,133,000 after buying an additional 104,363 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Lindsay by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,238,084 shares of the industrial products company’s stock worth $194,392,000 after buying an additional 7,033 shares during the last quarter. State Street Corp increased its holdings in shares of Lindsay by 11.2% in the 2nd quarter. State Street Corp now owns 416,378 shares of the industrial products company’s stock worth $55,303,000 after buying an additional 41,870 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Lindsay by 3.0% in the 1st quarter. Allianz Asset Management GmbH now owns 284,175 shares of the industrial products company’s stock worth $44,618,000 after buying an additional 8,273 shares during the last quarter. Finally, Amundi increased its holdings in shares of Lindsay by 24.0% in the 2nd quarter. Amundi now owns 273,406 shares of the industrial products company’s stock worth $36,070,000 after buying an additional 52,936 shares during the last quarter. Institutional investors own 84.79% of the company’s stock.

Lindsay Trading Down 2.8 %

Shares of LNN opened at $151.82 on Thursday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 22.10 and a beta of 0.63. The company has a quick ratio of 1.97, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $166.85 and a two-hundred day simple moving average of $158.13. Lindsay Co. has a twelve month low of $116.77 and a twelve month high of $183.08.

Lindsay (NYSE:LNNGet Rating) last announced its quarterly earnings results on Thursday, January 5th. The industrial products company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.47. The business had revenue of $176.20 million during the quarter, compared to analysts’ expectations of $178.10 million. Lindsay had a net margin of 9.71% and a return on equity of 19.74%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. On average, research analysts anticipate that Lindsay Co. will post 6.97 EPS for the current year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 0.90%. Lindsay’s dividend payout ratio is 19.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LNN shares. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Stifel Nicolaus cut their price objective on shares of Lindsay from $176.00 to $173.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th.

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.

See Also

Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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