Wellington Management Group LLP Sells 7,681 Shares of Lindsay Co. (NYSE:LNN)

Wellington Management Group LLP decreased its position in Lindsay Co. (NYSE:LNN) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,349 shares of the industrial products company’s stock after selling 7,681 shares during the quarter. Wellington Management Group LLP owned approximately 0.48% of Lindsay worth $6,891,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Lindsay by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company’s stock worth $40,310,000 after purchasing an additional 14,738 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Lindsay in the fourth quarter worth $1,597,000. Norges Bank bought a new position in Lindsay in the fourth quarter worth $10,751,000. GSA Capital Partners LLP grew its stake in shares of Lindsay by 223.3% in the third quarter. GSA Capital Partners LLP now owns 15,213 shares of the industrial products company’s stock worth $1,790,000 after acquiring an additional 10,507 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Lindsay by 124.1% in the third quarter. Quadrature Capital Ltd now owns 25,533 shares of the industrial products company’s stock worth $3,010,000 after acquiring an additional 14,138 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Trading Down 5.1 %

Lindsay stock opened at $122.89 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31. The stock has a market capitalization of $1.36 billion, a PE ratio of 19.60 and a beta of 0.61. The business’s fifty day moving average is $116.57 and its 200 day moving average is $121.37.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.17 by $0.68. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company had revenue of $139.20 million for the quarter, compared to analysts’ expectations of $144.38 million. During the same period last year, the firm posted $1.53 earnings per share. Lindsay’s revenue was down 15.4% compared to the same quarter last year. On average, sell-side analysts predict that Lindsay Co. will post 5.3 EPS for the current year.

Lindsay Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.36 dividend. This is an increase from Lindsay’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Lindsay’s dividend payout ratio is currently 22.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LNN. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Friday, April 5th. TheStreet cut Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Lindsay presently has an average rating of “Moderate Buy” and a consensus price target of $138.33.

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.