Renaissance Technologies LLC Sells 19,400 Shares of Lindsay Co. (NYSE:LNN)

Renaissance Technologies LLC decreased its holdings in Lindsay Co. (NYSE:LNN – Get Rating) by 36.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,300 shares of the industrial products company’s stock after selling 19,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.31% of Lindsay worth $4,915,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE raised its position in Lindsay by 2,100.0% in the 3rd quarter. US Bancorp DE now owns 264 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 252 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Lindsay during the third quarter worth $61,000. Allspring Global Investments Holdings LLC raised its position in shares of Lindsay by 75.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 627 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 269 shares during the last quarter. Baldwin Brothers LLC MA raised its position in shares of Lindsay by 30.0% during the third quarter. Baldwin Brothers LLC MA now owns 650 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 150 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings 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 last quarter. Institutional investors own 84.79% of the company’s stock.

Lindsay Stock Down 1.8 %

NYSE:LNN opened at $144.27 on Friday. Lindsay Co. has a 1 year low of $116.77 and a 1 year high of $183.08. 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 stock has a market cap of $1.59 billion, a price-to-earnings ratio of 21.00 and a beta of 0.62. The stock has a 50-day moving average price of $153.48 and a two-hundred day moving average price of $159.05.

Lindsay (NYSE:LNN – Get Rating) last posted its quarterly earnings data on Thursday, January 5th. The industrial products company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.40. The company had revenue of $176.20 million during the quarter, compared to analysts’ expectations of $178.10 million. Lindsay had a return on equity of 19.74% and a net margin of 9.71%. Lindsay’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts expect that Lindsay Co. will post 6.95 earnings per share for the current year.

Lindsay Announces Dividend

The company 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 of this dividend was Monday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 0.94%. Lindsay’s dividend payout ratio is currently 19.80%.

Analyst Upgrades and Downgrades

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

About Lindsay

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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.