Lindsay Co. (LNN) Position Lowered by Gabelli Funds LLC

Gabelli Funds LLC decreased its stake in Lindsay Co. (NYSE:LNN) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,000 shares of the industrial products company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in Lindsay were worth $5,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LNN. Quantamental Technologies LLC raised its position in Lindsay by 629.7% during the first quarter. Quantamental Technologies LLC now owns 810 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 699 shares during the last quarter. Pearl River Capital LLC purchased a new stake in shares of Lindsay during the fourth quarter worth about $87,000. Bessemer Group Inc. purchased a new stake in shares of Lindsay during the fourth quarter worth about $90,000. Everence Capital Management Inc. purchased a new stake in shares of Lindsay during the fourth quarter worth about $211,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Lindsay during the fourth quarter worth about $238,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Lindsay stock opened at $84.47 on Tuesday. Lindsay Co. has a 1 year low of $82.41 and a 1 year high of $109.50. The company has a market capitalization of $935.93 million, a P/E ratio of 28.73 and a beta of 0.26. The company has a quick ratio of 2.63, a current ratio of 3.85 and a debt-to-equity ratio of 0.43.



Lindsay (NYSE:LNN) last released its earnings results on Tuesday, April 9th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $115.43 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Lindsay’s revenue for the quarter was down 16.2% compared to the same quarter last year. On average, research analysts predict that Lindsay Co. will post 1.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.47%. Lindsay’s payout ratio is 42.18%.

LNN has been the subject of a number of recent research reports. ValuEngine downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Boenning Scattergood restated 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 shares of Lindsay from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $102.60.

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Lindsay 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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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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