Nuance Investments LLC Sells 39,262 Shares of Lindsay Co. (NYSE:LNN)

Nuance Investments LLC cut its stake in Lindsay Co. (NYSE:LNN) by 14.5% in the third quarter, HoldingsChannel.com reports. The fund owned 230,779 shares of the industrial products company’s stock after selling 39,262 shares during the period. Nuance Investments LLC’s holdings in Lindsay were worth $28,764,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. KBC Group NV increased its stake in Lindsay by 32.7% in the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock valued at $42,768,000 after purchasing an additional 84,560 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Lindsay in the 2nd quarter valued at $6,402,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Lindsay by 868.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company’s stock valued at $2,953,000 after buying an additional 21,551 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lindsay by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after buying an additional 21,474 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in Lindsay during the second quarter worth about $2,111,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Stock Up 0.2 %

NYSE:LNN opened at $124.90 on Wednesday. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $135.05. The stock has a 50-day moving average price of $121.92 and a two-hundred day moving average price of $119.38. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 20.75 and a beta of 0.61. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, October 24th. The industrial products company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.01 by $0.16. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The firm had revenue of $155.00 million for the quarter, compared to the consensus estimate of $145.37 million. During the same period last year, the company posted $1.74 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts expect that Lindsay Co. will post 5.66 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 15th. Lindsay’s dividend payout ratio (DPR) is presently 23.92%.

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.