Intech Investment Management LLC Increases Stock Holdings in Lindsay Co. (NYSE:LNN)

Intech Investment Management LLC lifted its position in Lindsay Co. (NYSE:LNN) by 109.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,105 shares of the industrial products company’s stock after purchasing an additional 2,145 shares during the period. Intech Investment Management LLC’s holdings in Lindsay were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Royce & Associates LP boosted its stake in Lindsay by 1.6% during the third quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock worth $50,442,000 after buying an additional 6,253 shares during the period. KBC Group NV boosted its position in Lindsay by 32.7% during the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock valued at $42,768,000 after purchasing an additional 84,560 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Lindsay in the third quarter valued at approximately $754,000. US Bancorp DE grew its holdings in Lindsay by 45.9% in the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 84 shares during the last quarter. Finally, Cardinal Capital Management increased its position in shares of Lindsay by 12.0% during the third quarter. Cardinal Capital Management now owns 15,683 shares of the industrial products company’s stock worth $1,955,000 after purchasing an additional 1,684 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Price Performance

Shares of LNN stock opened at $132.77 on Monday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 22.05 and a beta of 0.61. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $135.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. The stock’s 50-day simple moving average is $123.44 and its 200-day simple moving average is $120.05.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.16. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The firm had revenue of $155.00 million during the quarter, compared to analysts’ expectations of $145.37 million. During the same quarter last year, the company posted $1.74 earnings per share. The firm’s revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s dividend payout ratio is currently 23.92%.

Lindsay Company 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.