Bank of Montreal Can lowered its stake in Lindsay Co. (NYSE:LNN) by 34.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287 shares of the industrial products company’s stock after selling 150 shares during the quarter. Bank of Montreal Can’s holdings in Lindsay were worth $28,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Lindsay by 283.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,925 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 2,163 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Lindsay in the 1st quarter worth $440,000. Cardinal Capital Management lifted its holdings in shares of Lindsay by 2.3% in the 1st quarter. Cardinal Capital Management now owns 7,740 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 172 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Lindsay by 12.6% in the 4th quarter. Deutsche Bank AG now owns 58,788 shares of the industrial products company’s stock worth $5,656,000 after purchasing an additional 6,593 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Lindsay by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 115,146 shares of the industrial products company’s stock worth $11,082,000 after purchasing an additional 5,650 shares in the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:LNN opened at $78.87 on Wednesday. The company has a current ratio of 3.85, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43. Lindsay Co. has a 1-year low of $76.35 and a 1-year high of $109.50. The firm has a market cap of $854.57 million, a price-to-earnings ratio of 26.83 and a beta of 0.32.
Lindsay (NYSE:LNN) last issued its quarterly earnings data on Tuesday, April 9th. The industrial products company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.60). Lindsay had a net margin of 2.55% and a return on equity of 9.72%. The company had revenue of $109.20 million for the quarter, compared to the consensus estimate of $115.43 million. During the same quarter last year, the business posted $0.56 earnings per share. Lindsay’s revenue was down 16.2% on a year-over-year basis. As a group, sell-side analysts forecast that Lindsay Co. will post 1.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, May 16th. Lindsay’s dividend payout ratio (DPR) is presently 42.18%.
A number of equities analysts recently issued reports on LNN shares. ValuEngine cut Lindsay from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Boenning Scattergood reiterated a “buy” rating and issued a $132.00 target price on shares of Lindsay in a report on Thursday, February 28th. Finally, Zacks Investment Research upgraded Lindsay from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $102.60.
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Lindsay Company Profile
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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