Illinois Municipal Retirement Fund Cuts Position in Lindsay Co. (NYSE:LNN)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Lindsay Co. (NYSE:LNN) by 4.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,861 shares of the industrial products company’s stock after selling 286 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lindsay were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Union Bancaire Privee UBP SA bought a new position in Lindsay during the 4th quarter valued at approximately $679,000. Global Retirement Partners LLC increased its holdings in shares of Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 86 shares in the last quarter. Cardinal Capital Management raised its position in shares of Lindsay by 3.0% in the 4th quarter. Cardinal Capital Management now owns 16,159 shares of the industrial products company’s stock worth $1,912,000 after purchasing an additional 476 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Lindsay by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company’s stock worth $6,368,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Lindsay by 73.1% during the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares during the last quarter. 89.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com cut shares of Lindsay from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Stifel Nicolaus boosted their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Lindsay Trading Down 2.9 %

Lindsay stock opened at $128.27 on Tuesday. Lindsay Co. has a one year low of $109.27 and a one year high of $140.26. The business’s fifty day moving average is $129.55 and its 200 day moving average is $125.68. The stock has a market capitalization of $1.39 billion, a PE ratio of 20.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same quarter last year, the firm posted $1.36 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio (DPR) is presently 23.11%.

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.