Principal Financial Group Inc. Reduces Stake in Lindsay Co. (NYSE:LNN)

Principal Financial Group Inc. trimmed its holdings in shares of Lindsay Co. (NYSE:LNN) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,504 shares of the industrial products company’s stock after selling 3,369 shares during the period. Principal Financial Group Inc.’s holdings in Lindsay were worth $6,544,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LNN. US Bancorp DE lifted its position in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 84 shares during the period. CWM LLC raised its stake in shares of Lindsay by 16.8% during the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after buying an additional 92 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Lindsay in the 1st quarter valued at about $145,000. Intech Investment Management LLC purchased a new stake in shares of Lindsay in the second quarter worth about $241,000. Finally, SG Americas Securities LLC acquired a new position in Lindsay in the second quarter valued at approximately $279,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Up 0.2 %

LNN stock opened at $124.90 on Wednesday. The firm’s fifty day moving average is $121.92 and its 200 day moving average is $119.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. Lindsay Co. has a one year low of $109.27 and a one year high of $135.05. The firm has a market cap of $1.36 billion, a PE ratio of 20.75 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. The firm had revenue of $155.00 million for 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 revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. On average, research analysts forecast that Lindsay Co. will post 5.66 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently announced 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 15th. 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.