Sumitomo Mitsui Trust Group Inc. Has $1.29 Million Position in Lindsay Co. (NYSE:LNN)

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Lindsay Co. (NYSE:LNN) by 6.8% in the third quarter, HoldingsChannel.com reports. The fund owned 10,346 shares of the industrial products company’s stock after selling 750 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Lindsay were worth $1,290,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Lindsay by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,284,033 shares of the industrial products company’s stock valued at $151,079,000 after purchasing an additional 4,214 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lindsay by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after buying an additional 21,474 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Lindsay during the 2nd quarter worth $6,402,000. Rodgers Brothers Inc. lifted its position in shares of Lindsay by 0.4% during the 1st quarter. Rodgers Brothers Inc. now owns 49,760 shares of the industrial products company’s stock worth $5,855,000 after buying an additional 200 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Lindsay by 37.0% in the second quarter. American Century Companies Inc. now owns 39,021 shares of the industrial products company’s stock valued at $4,795,000 after buying an additional 10,536 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Stock Up 0.2 %

Shares of NYSE LNN opened at $124.90 on Wednesday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 20.75 and a beta of 0.61. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 12 month low of $109.27 and a 12 month high of $135.05. The stock has a 50-day moving average price of $121.92 and a two-hundred day moving average price of $119.38.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.16. The business had revenue of $155.00 million during the quarter, compared to analysts’ expectations of $145.37 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 EPS. As a group, analysts forecast that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. Lindsay’s dividend payout ratio (DPR) is presently 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.