Sumitomo Mitsui Trust Holdings Inc. Grows Stock Position in Lindsay Co. (NYSE:LNN)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Lindsay Co. (NYSE:LNN) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,160 shares of the industrial products company’s stock after acquiring an additional 240 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Lindsay were worth $2,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LNN. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lindsay during the 4th quarter valued at approximately $28,000. Windmill Hill Asset Management Ltd purchased a new position in shares of Lindsay during the 4th quarter valued at approximately $208,000. Hsbc Holdings PLC purchased a new position in shares of Lindsay during the 3rd quarter valued at approximately $215,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lindsay by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,332 shares of the industrial products company’s stock valued at $274,000 after buying an additional 756 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Lindsay during the 3rd quarter valued at approximately $316,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Stock Performance

Shares of LNN opened at $116.37 on Thursday. The business’s fifty day moving average price is $117.48 and its 200 day moving average price is $122.94. Lindsay Co. has a 12-month low of $106.46 and a 12-month high of $137.31. The stock has a market capitalization of $1.28 billion, a PE ratio of 18.56 and a beta of 0.61. 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 issued its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The firm had revenue of $151.50 million for the quarter, compared to analyst estimates of $172.06 million. During the same period last year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts forecast that Lindsay Co. will post 5.46 EPS for the current year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s dividend payout ratio is presently 22.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LNN shares. TheStreet cut Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Northcoast Research upgraded Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective on the stock in a research note on Friday, April 5th. Finally, StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.33.

Lindsay 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.