Gabelli Funds LLC Sells 200 Shares of Lindsay Co. (NYSE:LNN)

Gabelli Funds LLC cut its stake in Lindsay Co. (NYSE:LNN) by 0.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,000 shares of the industrial products company’s stock after selling 200 shares during the period. Gabelli Funds LLC’s holdings in Lindsay were worth $3,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Lindsay by 248.8% in the 3rd quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 13,986 shares during the last quarter. GAMMA Investing LLC lifted its stake in Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 131 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Lindsay by 746.5% during the fourth quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock valued at $6,168,000 after buying an additional 45,979 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Lindsay in the fourth quarter worth approximately $679,000. Finally, KBC Group NV lifted its stake in shares of Lindsay by 1.6% during the 4th quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock worth $41,233,000 after acquiring an additional 5,382 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Stifel Nicolaus reduced their price target on shares of Lindsay from $134.00 to $128.00 and set a “hold” rating on the stock in a research note on Wednesday.

Lindsay Stock Down 0.4 %

Shares of NYSE:LNN opened at $124.22 on Friday. The business’s 50 day moving average is $128.89 and its 200 day moving average is $126.94. The stock has a market cap of $1.35 billion, a P/E ratio of 19.94 and a beta of 0.72. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $140.27. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same quarter in the prior year, the company earned $1.64 EPS. The business’s revenue was up 23.5% compared to the same quarter last year. Sell-side analysts predict that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.36 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. Lindsay’s payout ratio is presently 20.48%.

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.