New York State Teachers Retirement System Sells 100 Shares of Lindsay Co. (NYSE:LNN)

New York State Teachers Retirement System lowered its stake in Lindsay Co. (NYSE:LNN) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,217 shares of the industrial products company’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System owned about 0.15% of Lindsay worth $1,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royce & Associates LP increased its holdings in shares of Lindsay by 1.6% in 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 last quarter. KBC Group NV increased its holdings in shares of Lindsay by 1.6% in 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 last quarter. Wellington Management Group LLP boosted its position in shares of Lindsay by 35.4% in 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 acquiring an additional 36,128 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Lindsay by 3.9% in 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 acquiring an additional 5,007 shares during the period. Finally, Lightrock Netherlands B.V. bought a new stake in shares of Lindsay in the fourth quarter valued at about $11,396,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Trading Down 1.2 %

LNN opened at $135.52 on Friday. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.26. The company has a 50-day simple moving average of $128.64 and a 200 day simple moving average of $125.01. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 21.75 and a beta of 0.67.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. During the same quarter in the prior year, the business posted $1.36 earnings per share. Lindsay’s revenue was up 3.0% compared to the same quarter last year. Analysts predict that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, February 14th. Lindsay’s payout ratio is 23.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNN. StockNews.com cut shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Stifel Nicolaus boosted their target price on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th.

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.