Lindsay Co. (NYSE:LNN) Shares Sold by Pier Capital LLC

Pier Capital LLC decreased its position in shares of Lindsay Co. (NYSE:LNN) by 16.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,398 shares of the industrial products company’s stock after selling 11,848 shares during the period. Pier Capital LLC’s holdings in Lindsay were worth $7,027,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC bought a new stake in shares of Lindsay in the 4th quarter worth $32,000. GAMMA Investing LLC grew its holdings in Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares during the period. Global Retirement Partners LLC raised its position in Lindsay by 10.3% in the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 86 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Lindsay by 73.1% during the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares in the last quarter. Finally, Gitterman Wealth Management LLC boosted its position in shares of Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 101 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LNN shares. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Stifel Nicolaus increased their price objective on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th.

Lindsay Trading Up 1.3 %

Shares of LNN opened at $128.55 on Tuesday. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.27. The stock has a market capitalization of $1.40 billion, a P/E ratio of 20.63 and a beta of 0.70. The business’s 50-day moving average price is $132.08 and its 200 day moving average price is $126.44.

Lindsay (NYSE:LNN) last released 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 net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. During the same quarter in the previous year, the business earned $1.36 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.36 per share. 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 1.12%. Lindsay’s dividend payout ratio is 23.11%.

Lindsay Profile

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.