Lindsay Co. (NYSE:LNN) Stock Position Decreased by Swiss National Bank

Swiss National Bank cut its stake in shares of Lindsay Co. (NYSE:LNN) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,700 shares of the industrial products company’s stock after selling 2,500 shares during the quarter. Swiss National Bank owned 0.20% of Lindsay worth $2,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LNN. Pacer Advisors Inc. acquired a new stake in shares of Lindsay in the fourth quarter worth $24,285,000. American Century Companies Inc. boosted its position in shares of Lindsay by 3,922.9% in the third quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock worth $22,445,000 after buying an additional 185,985 shares during the period. Robeco Schweiz AG acquired a new stake in shares of Lindsay in the third quarter worth $15,851,000. Nuance Investments LLC boosted its position in shares of Lindsay by 19.2% in the third quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company’s stock worth $41,267,000 after buying an additional 56,526 shares during the period. Finally, Heartland Advisors Inc. acquired a new stake in shares of Lindsay in the third quarter worth $4,744,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Price Performance

NYSE LNN opened at $115.77 on Thursday. Lindsay Co. has a fifty-two week low of $106.46 and a fifty-two week high of $137.31. The stock’s 50-day moving average is $116.51 and its two-hundred day moving average is $122.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. The firm has a market cap of $1.28 billion, a P/E ratio of 18.46 and a beta of 0.63.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company had revenue of $151.50 million for the quarter, compared to analyst estimates of $172.06 million. During the same period last year, the company earned $1.63 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. On average, analysts anticipate that Lindsay Co. will post 5.3 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.40 annualized dividend and a yield of 1.21%. Lindsay’s dividend payout ratio (DPR) is currently 22.33%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Friday, April 5th. StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, TheStreet cut Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

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.