Victory Capital Management Inc. Sells 979 Shares of Lindsay Co. (NYSE:LNN)

Victory Capital Management Inc. reduced its stake in shares of Lindsay Co. (NYSE:LNN) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,789 shares of the industrial products company’s stock after selling 979 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Lindsay worth $1,345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Deprince Race & Zollo Inc. bought a new stake in shares of Lindsay in the 2nd quarter valued at about $6,402,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lindsay by 868.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company’s stock valued at $2,953,000 after acquiring an additional 21,551 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Lindsay by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after purchasing an additional 21,474 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Lindsay during the second quarter worth $2,111,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of Lindsay by 90.9% during the 2nd quarter. Squarepoint Ops LLC now owns 28,388 shares of the industrial products company’s stock valued at $3,488,000 after purchasing an additional 13,519 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Stock Down 1.5 %

Lindsay stock opened at $131.08 on Wednesday. The business has a fifty day moving average price of $122.85 and a 200-day moving average price of $119.71. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $135.20. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 21.77 and a beta of 0.61. 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 (NYSE:LNN) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.16. The business had revenue of $155.00 million for the quarter, compared to analyst estimates of $145.37 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 earnings per share. Equities research analysts forecast that Lindsay Co. will post 5.66 EPS for the current fiscal year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.36 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. Lindsay’s dividend payout ratio is currently 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.