Royce & Associates LP Raises Stake in Lindsay Co. (NYSE:LNN)

Royce & Associates LP boosted its holdings in Lindsay Co. (NYSE:LNN) by 1.6% during the third quarter, Holdings Channel.com reports. The firm owned 404,701 shares of the industrial products company’s stock after acquiring an additional 6,253 shares during the quarter. Royce & Associates LP’s holdings in Lindsay were worth $50,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. KBC Group NV boosted its position in shares of Lindsay by 32.7% in the 3rd quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock worth $42,768,000 after purchasing an additional 84,560 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in Lindsay in the second quarter worth $6,402,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lindsay by 868.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company’s stock worth $2,953,000 after acquiring an additional 21,551 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lindsay by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock valued at $41,975,000 after acquiring an additional 21,474 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of Lindsay in the 2nd quarter worth about $2,111,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Stock Performance

Shares of Lindsay stock opened at $124.41 on Friday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 20.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $135.05. The firm’s 50-day moving average is $121.35 and its 200 day moving average is $119.22.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $145.37 million. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.74 earnings per share. Sell-side analysts anticipate that Lindsay Co. will post 5.66 EPS for the current fiscal year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 15th. Lindsay’s dividend payout ratio is currently 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.