Lindsay Co. (NYSE:LNN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in Lindsay Co. (NYSE:LNN) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,213 shares of the industrial products company’s stock after selling 269 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lindsay were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LNN. Cardinal Capital Management raised its holdings in Lindsay by 12.0% in the 3rd quarter. Cardinal Capital Management now owns 15,683 shares of the industrial products company’s stock valued at $1,955,000 after acquiring an additional 1,684 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Lindsay by 222.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 9,669 shares of the industrial products company’s stock worth $1,205,000 after acquiring an additional 6,672 shares during the period. Inspire Investing LLC raised its stake in Lindsay by 18.4% during the third quarter. Inspire Investing LLC now owns 3,374 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 525 shares during the period. CWM LLC boosted its holdings in Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 92 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Lindsay by 171.2% in the third quarter. SG Americas Securities LLC now owns 6,159 shares of the industrial products company’s stock valued at $768,000 after acquiring an additional 3,888 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Trading Up 9.8 %

Shares of LNN stock opened at $133.52 on Thursday. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $135.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. The company has a 50-day moving average of $120.53 and a two-hundred day moving average of $118.76. The firm has a market cap of $1.45 billion, a PE ratio of 22.18 and a beta of 0.61.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.16. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $145.37 million. During the same period in the prior year, the firm earned $1.74 earnings per share. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, analysts predict that Lindsay Co. will post 5.66 EPS for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, November 15th. Lindsay’s dividend payout ratio is presently 23.92%.

About Lindsay

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.