UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in Lindsay Co. (NYSE:LNN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Lindsay Co. (NYSE:LNN) by 28.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 33,832 shares of the industrial products company’s stock after selling 13,623 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.31% of Lindsay worth $4,217,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LNN. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Lindsay in the 2nd quarter valued at about $1,327,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Lindsay in the 2nd quarter valued at about $6,402,000. Victory Capital Management Inc. raised its holdings in shares of Lindsay by 139.4% in the 2nd quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock valued at $1,446,000 after acquiring an additional 6,853 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Lindsay in the 2nd quarter valued at about $2,111,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lindsay by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after acquiring an additional 5,007 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

Shares of Lindsay stock opened at $130.75 on Friday. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.42 billion, a PE ratio of 21.72 and a beta of 0.64. The business’s 50-day moving average price is $124.72 and its 200-day moving average price is $120.92. Lindsay Co. has a 12 month low of $109.27 and a 12 month high of $135.20.

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

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s 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.