Tyers Asset Management LLC lifted its holdings in Lindsay Co. (NYSE:LNN) by 163.5% in the second quarter, Holdings Channel reports. The fund owned 4,648 shares of the industrial products company’s stock after purchasing an additional 2,884 shares during the quarter. Tyers Asset Management LLC’s holdings in Lindsay were worth $451,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Lindsay by 7.1% in the 2nd quarter. BlackRock Inc. now owns 1,507,391 shares of the industrial products company’s stock valued at $146,202,000 after acquiring an additional 99,369 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Lindsay by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,015 shares of the industrial products company’s stock valued at $32,494,000 after acquiring an additional 2,170 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Lindsay by 29.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 221,757 shares of the industrial products company’s stock valued at $20,278,000 after acquiring an additional 50,837 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Lindsay by 0.5% in the 1st quarter. Northern Trust Corp now owns 139,978 shares of the industrial products company’s stock valued at $12,799,000 after acquiring an additional 756 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in shares of Lindsay in the 2nd quarter valued at about $9,955,000. 92.91% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Lindsay from $94.00 to $91.00 and set a “hold” rating for the company in a research note on Tuesday. ValuEngine downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. TheStreet raised shares of Lindsay from a “c+” rating to a “b+” rating in a research note on Thursday, June 28th. Finally, Zacks Investment Research downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Monday, June 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Lindsay has a consensus rating of “Hold” and a consensus target price of $94.33.
In other news, Director Bill Welsh sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $93.52, for a total transaction of $280,560.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.
Shares of NYSE LNN opened at $89.91 on Wednesday. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 1.61 and a beta of 0.34. Lindsay Co. has a 1 year low of $83.57 and a 1 year high of $103.03.
Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, June 28th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.27. The business had revenue of $169.60 million during the quarter, compared to the consensus estimate of $167.57 million. Lindsay had a net margin of 3.89% and a return on equity of 12.26%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 earnings per share. sell-side analysts predict that Lindsay Co. will post 3.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were paid a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.24 annualized dividend and a yield of 1.38%. This is an increase from Lindsay’s previous quarterly dividend of $0.30. Lindsay’s dividend payout ratio (DPR) is presently 57.14%.
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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