Lindsay Co. (NYSE:LNN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of Lindsay Co. (NYSE:LNN) by 5.7% during the 4th quarter, Holdings Channel reports. The fund owned 20,317 shares of the industrial products company’s stock after selling 1,217 shares during the quarter. New York State Teachers Retirement System’s holdings in Lindsay were worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Heartland Advisors Inc. acquired a new stake in Lindsay during the third quarter worth about $4,744,000. GSA Capital Partners LLP grew its holdings in Lindsay by 223.3% during the third quarter. GSA Capital Partners LLP now owns 15,213 shares of the industrial products company’s stock worth $1,790,000 after acquiring an additional 10,507 shares during the period. Quadrature Capital Ltd grew its holdings in Lindsay by 124.1% during the third quarter. Quadrature Capital Ltd now owns 25,533 shares of the industrial products company’s stock worth $3,010,000 after acquiring an additional 14,138 shares during the period. Robeco Schweiz AG acquired a new stake in Lindsay in the third quarter valued at approximately $15,851,000. Finally, Assenagon Asset Management S.A. grew its holdings in Lindsay by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 41,403 shares of the industrial products company’s stock valued at $5,348,000 after purchasing an additional 4,560 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LNN has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a report on Tuesday, December 19th. TheStreet lowered Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a report on Friday. Finally, Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Lindsay Stock Performance

NYSE LNN opened at $114.74 on Tuesday. The company has a market cap of $1.27 billion, a PE ratio of 18.30 and a beta of 0.61. The stock’s 50 day simple moving average is $119.22 and its 200-day simple moving average is $122.95. Lindsay Co. has a 1-year low of $106.46 and a 1-year high of $137.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. The business had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 earnings per share. As a group, equities research analysts anticipate that Lindsay Co. will post 5.46 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.35 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.40 annualized dividend and a dividend yield of 1.22%. Lindsay’s dividend payout ratio (DPR) is presently 22.33%.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.