Lindsay Co. (NYSE:LNN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Lindsay Co. (NYSE:LNN) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,040 shares of the industrial products company’s stock after selling 415 shares during the period. PNC Financial Services Group Inc.’s holdings in Lindsay were worth $522,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LNN. Cardinal Capital Management raised its position in shares of Lindsay by 1.9% in the 4th quarter. Cardinal Capital Management now owns 10,109 shares of the industrial products company’s stock valued at $1,306,000 after purchasing an additional 188 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lindsay by 8.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,528 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 196 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Lindsay during the 4th quarter valued at approximately $28,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Lindsay by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,160 shares of the industrial products company’s stock valued at $2,475,000 after acquiring an additional 240 shares in the last quarter. Finally, CWM LLC raised its position in shares of Lindsay by 129.6% during the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 276 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Stock Up 14.4 %

LNN opened at $129.56 on Friday. Lindsay Co. has a fifty-two week low of $106.46 and a fifty-two week high of $137.31. The business has a 50-day moving average of $116.46 and a 200-day moving average of $121.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. The company has a market capitalization of $1.43 billion, a PE ratio of 20.66 and a beta of 0.61.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.68. The business had revenue of $139.20 million for the quarter, compared to analyst estimates of $144.38 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 EPS. Equities research analysts forecast that Lindsay Co. will post 5.3 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.35 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.08%. Lindsay’s dividend payout ratio is currently 22.33%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. TheStreet downgraded Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Finally, Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Friday, April 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

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.