Principal Financial Group Inc. Cuts Holdings in Lindsay Co. (NYSE:LNN)

Principal Financial Group Inc. lessened its stake in shares of Lindsay Co. (NYSE:LNN) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,504 shares of the industrial products company’s stock after selling 3,369 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Lindsay worth $6,544,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE boosted its position in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. CWM LLC boosted its stake in Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 92 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Lindsay in the first quarter worth $145,000. Intech Investment Management LLC acquired a new position in shares of Lindsay during the second quarter worth $241,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Lindsay during the 2nd quarter valued at $279,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Stock Up 0.2 %

Shares of LNN stock opened at $124.90 on Wednesday. The stock’s fifty day moving average price is $121.92 and its 200 day moving average price is $119.38. 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 company has a market cap of $1.36 billion, a price-to-earnings ratio of 20.75 and a beta of 0.61.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.16. The firm had revenue of $155.00 million for the quarter, compared to the consensus estimate of $145.37 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.74 earnings per share. On average, research analysts expect that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 15th. Lindsay’s dividend payout ratio (DPR) is presently 23.92%.

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.