Illinois Municipal Retirement Fund Lowers Holdings in Lindsay Co. (NYSE:LNN)

Illinois Municipal Retirement Fund reduced its holdings in shares of Lindsay Co. (NYSE:LNN) by 1.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,399 shares of the industrial products company’s stock after selling 127 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lindsay were worth $826,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LNN. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lindsay in the 4th quarter valued at about $28,000. CWM LLC grew its holdings in Lindsay by 129.6% during the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 276 shares in the last quarter. Windmill Hill Asset Management Ltd purchased a new stake in shares of Lindsay in the 4th quarter valued at approximately $208,000. Hsbc Holdings PLC acquired a new stake in shares of Lindsay in the 3rd quarter valued at $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lindsay by 48.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,332 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 756 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNN has been the subject of a number of recent analyst reports. TheStreet downgraded Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Friday, April 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Lindsay Trading Up 1.0 %

LNN opened at $117.35 on Tuesday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 18.72 and a beta of 0.61. Lindsay Co. has a 52 week low of $106.46 and a 52 week high of $137.31. The business’s 50 day moving average is $117.06 and its two-hundred day moving average is $123.01. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The company had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. During the same period last year, the firm posted $1.63 EPS. Lindsay’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, research analysts predict that Lindsay Co. will post 5.3 EPS for the current year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s dividend payout ratio 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.