Comerica Bank Decreases Position in Lindsay Co. (NYSE:LNN)

Comerica Bank lessened its holdings in Lindsay Co. (NYSE:LNNGet Rating) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,859 shares of the industrial products company’s stock after selling 950 shares during the quarter. Comerica Bank owned 0.08% of Lindsay worth $1,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its position in Lindsay by 1.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 4,487 shares of the industrial products company’s stock worth $596,000 after purchasing an additional 75 shares during the period. PDT Partners LLC increased its position in shares of Lindsay by 33.8% in the second quarter. PDT Partners LLC now owns 8,036 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 2,030 shares during the period. TT International Asset Management LTD increased its position in shares of Lindsay by 54.4% in the second quarter. TT International Asset Management LTD now owns 15,378 shares of the industrial products company’s stock valued at $2,042,000 after acquiring an additional 5,420 shares during the period. Baldwin Brothers LLC MA increased its position in shares of Lindsay by 30.0% in the third quarter. Baldwin Brothers LLC MA now owns 650 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 150 shares during the period. Finally, Cardinal Capital Management increased its position in shares of Lindsay by 2.0% in the second quarter. Cardinal Capital Management now owns 8,938 shares of the industrial products company’s stock valued at $1,187,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 84.79% of the company’s stock.

Lindsay Price Performance

Shares of NYSE LNN opened at $147.03 on Monday. Lindsay Co. has a 1 year low of $116.77 and a 1 year high of $183.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 1.97. The company’s 50-day moving average is $165.91 and its 200 day moving average is $158.45. The stock has a market capitalization of $1.62 billion, a P/E ratio of 21.40 and a beta of 0.63.

Lindsay (NYSE:LNNGet Rating) last announced its quarterly earnings results on Thursday, January 5th. The industrial products company reported $1.65 earnings per share (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 company had revenue of $176.20 million for the quarter, compared to analysts’ expectations of $178.10 million. During the same quarter in the previous year, the company earned $0.72 earnings per share. Lindsay’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that Lindsay Co. will post 6.97 earnings per share for the current year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, February 13th. Lindsay’s payout ratio is currently 19.80%.

Analyst Ratings Changes

LNN has been the topic of a number of analyst reports. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Stifel Nicolaus decreased their price objective on shares of Lindsay from $176.00 to $173.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th.

Lindsay 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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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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