BNP Paribas Financial Markets Increases Stock Holdings in Lindsay Co. (NYSE:LNN)

BNP Paribas Financial Markets grew its holdings in shares of Lindsay Co. (NYSE:LNN) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,026 shares of the industrial products company’s stock after acquiring an additional 384 shares during the quarter. BNP Paribas Financial Markets’ holdings in Lindsay were worth $626,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE increased its stake in shares of Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. CWM LLC lifted its holdings 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 during the period. Intech Investment Management LLC purchased a new stake in Lindsay during the second quarter valued at approximately $241,000. SG Americas Securities LLC bought a new position in Lindsay in the 2nd quarter worth $279,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Lindsay by 1,283.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock valued at $340,000 after buying an additional 2,567 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Stock Performance

Shares of NYSE LNN opened at $130.75 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of 21.72 and a beta of 0.64. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $135.20. The firm’s fifty day moving average is $124.72 and its two-hundred day moving average is $120.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92.

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

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, November 15th. Lindsay’s dividend payout ratio (DPR) is 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.