New York State Common Retirement Fund Decreases Position in Lindsay Co. (NYSE:LNN)

New York State Common Retirement Fund trimmed its position in shares of Lindsay Co. (NYSE:LNN) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,290 shares of the industrial products company’s stock after selling 5,578 shares during the quarter. New York State Common Retirement Fund owned approximately 0.24% of Lindsay worth $3,110,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Cardinal Capital Management boosted its position in Lindsay by 3.0% during the fourth quarter. Cardinal Capital Management now owns 16,159 shares of the industrial products company’s stock worth $1,912,000 after purchasing an additional 476 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Lindsay by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company’s stock valued at $6,368,000 after acquiring an additional 1,324 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Lindsay by 73.1% in the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 623 shares in the last quarter. Lightrock Netherlands B.V. purchased a new stake in shares of Lindsay in the fourth quarter valued at $11,396,000. Finally, Stephens Investment Management Group LLC lifted its position in shares of Lindsay by 1.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 89,344 shares of the industrial products company’s stock valued at $10,570,000 after acquiring an additional 1,509 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LNN has been the topic of several recent research reports. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Stifel Nicolaus upped their price objective on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th.

Lindsay Stock Performance

Lindsay stock opened at $131.76 on Friday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 21.15 and a beta of 0.67. The stock has a fifty day moving average price of $129.42 and a 200 day moving average price of $125.51. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $140.26. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24.

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

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.36 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.44 annualized dividend and a yield of 1.09%. Lindsay’s payout ratio is currently 23.11%.

About Lindsay

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.