JPMorgan Chase & Co. Reduces Position in Lindsay Co. (NYSE:LNN)

JPMorgan Chase & Co. lowered its holdings in Lindsay Co. (NYSE:LNN) by 13.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,289 shares of the industrial products company’s stock after selling 1,552 shares during the period. JPMorgan Chase & Co. owned about 0.09% of Lindsay worth $1,282,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE grew its position in shares of Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. CWM LLC boosted its holdings in Lindsay by 16.8% in the third 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 Lindsay during the second quarter valued at $241,000. Point72 Asset Management L.P. raised its holdings in shares of Lindsay by 1,283.5% during the second quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 2,567 shares during the period. Finally, Quadrature Capital Ltd lifted its position in shares of Lindsay by 6.8% in the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock worth $392,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Stock Down 0.5 %

LNN stock opened at $138.36 on Friday. The company’s 50 day simple moving average is $127.26 and its 200-day simple moving average is $123.11. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $139.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The firm has a market capitalization of $1.50 billion, a P/E ratio of 22.21 and a beta of 0.66.

Lindsay (NYSE:LNN) last posted its quarterly 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 business had revenue of $166.30 million for 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. As a group, equities research analysts anticipate that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, February 14th. Lindsay’s dividend payout ratio (DPR) is 23.11%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LNN shares. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Stifel Nicolaus boosted their price target on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, January 8th.

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.