Amundi trimmed its stake in Lindsay Co. (NYSE:LNN - Free Report) by 54.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,511 shares of the industrial products company's stock after selling 247,412 shares during the period. Amundi owned 1.90% of Lindsay worth $24,589,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atom Investors LP purchased a new stake in Lindsay in the third quarter worth about $731,000. Barclays PLC raised its holdings in Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock worth $2,446,000 after purchasing an additional 13,986 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lindsay by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company's stock valued at $16,571,000 after buying an additional 5,007 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Lindsay during the 3rd quarter valued at $754,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Lindsay during the 4th quarter valued at $679,000. Hedge funds and other institutional investors own 89.94% of the company's stock.
A number of research analysts recently issued reports on LNN shares. Stifel Nicolaus lifted their price target on shares of Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, January 8th. StockNews.com cut Lindsay from a "buy" rating to a "hold" rating in a research note on Monday, February 17th.
Check Out Our Latest Stock Analysis on Lindsay
NYSE LNN traded up $2.41 during mid-day trading on Friday, reaching $130.16. The stock had a trading volume of 111,146 shares, compared to its average volume of 84,902. The company has a fifty day moving average price of $131.32 and a 200 day moving average price of $126.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.27. The stock has a market cap of $1.41 billion, a PE ratio of 20.89 and a beta of 0.70.
Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.18. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same period in the prior year, the company posted $1.36 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.11%. Lindsay's dividend payout ratio is presently 23.11%.
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.
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