Sumitomo Mitsui Trust Group Inc. Has $975,000 Stake in Lindsay Co. (NYSE:LNN)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Lindsay Co. (NYSE:LNN) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,239 shares of the industrial products company’s stock after selling 2,107 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.08% of Lindsay worth $975,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP grew its holdings in Lindsay by 1.6% during the third quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock valued at $50,442,000 after purchasing an additional 6,253 shares during the period. KBC Group NV grew its holdings in Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock valued at $41,233,000 after purchasing an additional 5,382 shares during the period. Wellington Management Group LLP grew its holdings in Lindsay by 35.4% during the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after purchasing an additional 36,128 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Lindsay by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after purchasing an additional 5,007 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Lindsay by 46.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 74,950 shares of the industrial products company’s stock valued at $9,342,000 after purchasing an additional 23,710 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Stock Performance

Shares of LNN opened at $132.75 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.26. The firm’s 50 day moving average price is $128.07 and its two-hundred day moving average price is $124.47. The firm has a market cap of $1.44 billion, a P/E ratio of 21.31 and a beta of 0.67.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, February 14th. Lindsay’s dividend payout ratio is presently 23.11%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LNN. Stifel Nicolaus boosted their price objective on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th.

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.