Dynamic Technology Lab Private Ltd Sells 5,787 Shares of Lindsay Co. (NYSE:LNN)

Dynamic Technology Lab Private Ltd trimmed its stake in shares of Lindsay Co. (NYSE:LNN) by 71.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,334 shares of the industrial products company’s stock after selling 5,787 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Lindsay were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LNN. US Bancorp DE boosted its holdings in Lindsay by 45.9% in the third 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. CWM LLC lifted its position in shares of Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 92 shares during the period. Intech Investment Management LLC bought a new stake in shares of Lindsay during the 2nd quarter valued at about $241,000. SG Americas Securities LLC purchased a new position in shares of Lindsay during the second quarter valued at about $279,000. Finally, Point72 Asset Management L.P. raised its stake in Lindsay by 1,283.5% in the second quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock worth $340,000 after buying an additional 2,567 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Stock Performance

Lindsay stock opened at $132.77 on Monday. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $135.20. The stock’s 50 day simple moving average is $123.44 and its two-hundred day simple moving average is $120.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 22.05 and a beta of 0.61.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.16. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $145.37 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. As a group, analysts expect that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. Lindsay’s payout ratio is 23.92%.

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.