Lindsay Co. (NYSE:LNN) Stake Lessened by Pier Capital LLC

Pier Capital LLC trimmed its stake in shares of Lindsay Co. (NYSE:LNN) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,398 shares of the industrial products company’s stock after selling 11,848 shares during the quarter. Pier Capital LLC owned approximately 0.55% of Lindsay worth $7,027,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC bought a new position in shares of Lindsay during the fourth quarter worth about $32,000. GAMMA Investing LLC lifted its holdings in Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after buying an additional 131 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 86 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 623 shares during the last quarter. Finally, Gitterman Wealth Management LLC raised its position in shares of Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 101 shares in the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted 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. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th.

Lindsay Trading Up 1.3 %

Shares of NYSE LNN opened at $128.55 on Tuesday. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $140.27. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 20.63 and a beta of 0.70. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $132.08 and its 200 day simple moving average is $126.44.

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 the consensus estimate of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The company 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 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio (DPR) is 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.