BlackRock Inc. Lowers Holdings in Lindsay Co. (NYSE:LNN)

BlackRock Inc. lowered its holdings in Lindsay Co. (NYSE:LNN – Get Rating) by 0.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,891,506 shares of the industrial products company’s stock after selling 82 shares during the quarter. BlackRock Inc. owned 17.23% of Lindsay worth $271,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Lindsay by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,238,084 shares of the industrial products company’s stock worth $194,392,000 after purchasing an additional 7,033 shares during the last quarter. State Street Corp raised its stake in shares of Lindsay by 11.2% in the second quarter. State Street Corp now owns 416,378 shares of the industrial products company’s stock worth $55,303,000 after purchasing an additional 41,870 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Lindsay by 3.0% in the first quarter. Allianz Asset Management GmbH now owns 284,175 shares of the industrial products company’s stock worth $44,618,000 after purchasing an additional 8,273 shares during the last quarter. Amundi raised its stake in shares of Lindsay by 24.0% in the second quarter. Amundi now owns 273,406 shares of the industrial products company’s stock worth $36,070,000 after purchasing an additional 52,936 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Lindsay by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 210,421 shares of the industrial products company’s stock worth $33,038,000 after purchasing an additional 3,062 shares during the last quarter. Hedge funds and other institutional investors own 84.79% of the company’s stock.

Lindsay Stock Performance

Shares of LNN opened at $144.27 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 1.97. Lindsay Co. has a one year low of $116.77 and a one year high of $183.08. The firm has a market capitalization of $1.59 billion, a P/E ratio of 21.00 and a beta of 0.62. The business has a fifty day moving average of $153.48 and a 200 day moving average of $158.99.

Lindsay (NYSE:LNN – Get Rating) last issued 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. Lindsay had a return on equity of 19.74% and a net margin of 9.71%. The company had revenue of $176.20 million during the quarter, compared to analyst estimates of $178.10 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. Lindsay’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lindsay Co. will post 6.95 EPS for the current year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.94%. The ex-dividend date was Monday, February 13th. Lindsay’s dividend payout ratio is presently 19.80%.

Analyst Upgrades and Downgrades

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

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.