Lindsay Co. (NYSE:LNN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Lindsay Co. (NYSE:LNN) by 8.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,789 shares of the industrial products company’s stock after selling 979 shares during the period. Victory Capital Management Inc.’s holdings in Lindsay were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Deprince Race & Zollo Inc. purchased a new stake in shares of Lindsay in the 2nd quarter valued at $6,402,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lindsay by 868.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company’s stock valued at $2,953,000 after purchasing an additional 21,551 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Lindsay by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock valued at $41,975,000 after purchasing an additional 21,474 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in Lindsay in the second quarter valued at $2,111,000. Finally, Squarepoint Ops LLC grew its position in Lindsay by 90.9% during the 2nd quarter. Squarepoint Ops LLC now owns 28,388 shares of the industrial products company’s stock worth $3,488,000 after purchasing an additional 13,519 shares during the period. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Performance

Shares of LNN stock opened at $131.08 on Wednesday. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $135.20. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.42 billion, a PE ratio of 21.77 and a beta of 0.61. The business has a 50-day simple moving average of $122.85 and a 200-day simple moving average of $119.71.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. The company had revenue of $155.00 million during the quarter, compared to the consensus estimate of $145.37 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. Lindsay’s revenue for the quarter 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. On average, equities analysts expect that Lindsay Co. will post 5.66 EPS for the current year.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given 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 yield of 1.10%. Lindsay’s dividend payout ratio is presently 23.92%.

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.