Hsbc Holdings PLC Sells 2,843 Shares of Lindsay Co. (NYSE:LNN)

Hsbc Holdings PLC decreased its holdings in Lindsay Co. (NYSE:LNN – Get Rating) by 57.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,082 shares of the industrial products company’s stock after selling 2,843 shares during the period. Hsbc Holdings PLC’s holdings in Lindsay were worth $304,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LNN. Advisors Asset Management Inc. increased its holdings in Lindsay by 0.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,069 shares of the industrial products company’s stock worth $1,873,000 after buying an additional 117 shares in the last quarter. PDT Partners LLC grew its stake 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 worth $1,067,000 after acquiring an additional 2,030 shares during the period. Global Alpha Capital Management Ltd. raised its holdings in shares of Lindsay by 11.7% during the third quarter. Global Alpha Capital Management Ltd. now owns 133,873 shares of the industrial products company’s stock valued at $19,181,000 after purchasing an additional 14,000 shares during the last quarter. TT International Asset Management LTD lifted its position in Lindsay by 54.4% during 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 purchasing an additional 5,420 shares during the period. Finally, Baldwin Brothers LLC MA boosted its holdings in Lindsay by 30.0% in the third quarter. Baldwin Brothers LLC MA now owns 650 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 84.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a report on Friday, February 10th.

Lindsay Stock Performance

Shares of NYSE LNN opened at $149.67 on Thursday. Lindsay Co. has a 12-month low of $116.77 and a 12-month high of $183.08. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 21.79 and a beta of 0.62. The company has a current ratio of 3.24, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $154.24 and a 200 day moving average of $159.29.

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, topping the consensus estimate of $1.25 by $0.40. The firm had revenue of $176.20 million during the quarter, compared to analyst estimates of $178.10 million. Lindsay had a return on equity of 19.74% and a net margin of 9.71%. Lindsay’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. On average, research analysts anticipate that Lindsay Co. will post 6.95 earnings per share for the current year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th were given a dividend of $0.34 per share. The ex-dividend date was Monday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. Lindsay’s payout ratio is currently 19.80%.

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.