Rodgers Brothers Inc. Reduces Position in Lindsay Co. (NYSE:LNN)

Rodgers Brothers Inc. reduced its stake in Lindsay Co. (NYSE:LNN) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,750 shares of the industrial products company’s stock after selling 1,250 shares during the quarter. Rodgers Brothers Inc. owned about 0.36% of Lindsay worth $4,585,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Atom Investors LP purchased a new position in Lindsay in the 3rd quarter valued at about $731,000. Barclays PLC lifted its stake in shares of Lindsay by 248.8% during the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after buying an additional 13,986 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Lindsay by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock worth $16,571,000 after acquiring an additional 5,007 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Lindsay during the 4th quarter worth $679,000. Finally, KBC Group NV boosted its holdings in shares of Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock worth $41,233,000 after purchasing an additional 5,382 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LNN shares. Stifel Nicolaus increased their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th.

Lindsay Trading Down 3.4 %

NYSE LNN opened at $126.55 on Monday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 20.31 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. Lindsay Co. has a one year low of $109.27 and a one year high of $140.27. The company’s 50 day moving average price is $132.00 and its 200 day moving average price is $126.85.

Lindsay (NYSE:LNN) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 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 business 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 revenue for the quarter 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, February 14th. Lindsay’s payout ratio 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.