HighTower Advisors LLC Sells 77 Shares of Lindsay Co. (NYSE:LNN)

HighTower Advisors LLC decreased its holdings in shares of Lindsay Co. (NYSE:LNN) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,928 shares of the industrial products company’s stock after selling 77 shares during the period. HighTower Advisors LLC owned about 0.06% of Lindsay worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Lightrock Netherlands B.V. purchased a new stake in shares of Lindsay in the fourth quarter worth $11,396,000. SG Americas Securities LLC boosted its holdings in Lindsay by 746.5% in the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock worth $6,168,000 after buying an additional 45,979 shares during the period. Jennison Associates LLC purchased a new stake in Lindsay in the 4th quarter worth $5,088,000. Wellington Management Group LLP raised 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 acquiring an additional 36,128 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Lindsay by 46.3% in 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 acquiring an additional 23,710 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Stock Up 0.2 %

LNN opened at $130.82 on Friday. The company has a market capitalization of $1.42 billion, a PE ratio of 21.00 and a beta of 0.70. The firm has a 50-day simple moving average of $132.13 and a two-hundred day simple moving average of $126.61. The company has a quick ratio of 2.65, a current ratio of 3.87 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 $140.27.

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

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio is presently 23.11%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Stifel Nicolaus lifted their price objective 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.