Rhumbline Advisers Has $3.98 Million Stock Holdings in Lindsay Co. (NYSE:LNN)

Rhumbline Advisers decreased its holdings in Lindsay Co. (NYSE:LNN) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,603 shares of the industrial products company’s stock after selling 2,502 shares during the quarter. Rhumbline Advisers owned 0.31% of Lindsay worth $3,976,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. US Bancorp DE increased its position in Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 84 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Lindsay in the 3rd quarter valued at about $754,000. KBC Group NV increased its position in Lindsay by 32.7% in the 3rd quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock valued at $42,768,000 after acquiring an additional 84,560 shares in the last quarter. Royce & Associates LP increased its position in Lindsay by 1.6% in the 3rd quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock valued at $50,442,000 after acquiring an additional 6,253 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in Lindsay by 109.4% in the 3rd quarter. Intech Investment Management LLC now owns 4,105 shares of the industrial products company’s stock valued at $512,000 after acquiring an additional 2,145 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Lindsay Price Performance

Shares of LNN opened at $131.76 on Friday. The company’s fifty day simple moving average is $129.42 and its 200 day simple moving average is $125.51. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 21.15 and a beta of 0.67. Lindsay Co. has a 1-year low of $109.27 and a 1-year 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 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. The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. Lindsay’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, research analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

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

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.