California State Teachers Retirement System Reduces Holdings in Lindsay Co. (NYSE:LNN)

California State Teachers Retirement System lowered its position in Lindsay Co. (NYSE:LNN) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,174 shares of the industrial products company’s stock after selling 118 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Lindsay worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. AlphaQuest LLC purchased a new position in shares of Lindsay during the 4th quarter worth $32,000. Global Retirement Partners LLC grew its position in Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 86 shares in the last quarter. Van ECK Associates Corp grew its position in Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 623 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Lindsay by 729.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock worth $202,000 after buying an additional 1,503 shares in the last quarter. Finally, Gitterman Wealth Management LLC grew its position in shares of Lindsay by 6.1% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock worth $207,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LNN shares. Stifel Nicolaus reduced their price objective on Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, April 11th.

Lindsay Price Performance

Shares of NYSE LNN opened at $137.38 on Tuesday. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $144.08. The firm’s 50-day simple moving average is $131.97 and its 200 day simple moving average is $130.25. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.49 billion, a P/E ratio of 22.05 and a beta of 0.82.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.55. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company had revenue of $187.10 million for the quarter, compared to analysts’ expectations of $174.50 million. During the same quarter in the previous year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities analysts expect that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, May 16th. Lindsay’s payout ratio is presently 20.48%.

About Lindsay

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.