Geode Capital Management LLC Trims Position in Lindsay Co. (NYSE:LNN)

Geode Capital Management LLC decreased its position in shares of Lindsay Co. (NYSE:LNN) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,137 shares of the industrial products company’s stock after selling 295 shares during the quarter. Geode Capital Management LLC owned approximately 2.28% of Lindsay worth $30,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its holdings in Lindsay by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lindsay by 868.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company’s stock valued at $2,953,000 after buying an additional 21,551 shares during the period. Panagora Asset Management Inc. acquired a new position in Lindsay in the second quarter valued at approximately $2,111,000. Rhumbline Advisers grew its position in Lindsay by 2.8% in the second quarter. Rhumbline Advisers now owns 37,082 shares of the industrial products company’s stock worth $4,557,000 after acquiring an additional 1,013 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Lindsay by 139.4% during the second quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock worth $1,446,000 after acquiring an additional 6,853 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

NYSE:LNN opened at $122.47 on Thursday. The company has a market capitalization of $1.33 billion, a P/E ratio of 20.34 and a beta of 0.64. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $135.20. The stock’s fifty day moving average is $125.34 and its two-hundred day moving average is $121.65.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, October 24th. The industrial products company reported $1.17 EPS for the quarter, beating 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 company had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $145.37 million. During the same quarter in the prior year, the company posted $1.74 earnings per share. Lindsay’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities analysts expect that Lindsay Co. will post 5.64 EPS for the current year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.36 per share. The ex-dividend date was Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. Lindsay’s 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.