HighTower Advisors LLC Decreases Position in Lindsay Co. (NYSE:LNN)

HighTower Advisors LLC decreased its stake in Lindsay Co. (NYSE:LNN) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,928 shares of the industrial products company’s stock after selling 77 shares during the quarter. HighTower Advisors LLC’s holdings in Lindsay were worth $820,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. AlphaQuest LLC purchased a new position in Lindsay during the fourth quarter worth $32,000. GAMMA Investing LLC grew 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 valued at $33,000 after purchasing an additional 131 shares during the last quarter. Global Retirement Partners LLC raised its position in 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 purchasing an additional 86 shares during the period. Van ECK Associates Corp lifted its stake in Lindsay by 73.1% in the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 623 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Lindsay by 6.8% during the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after buying an additional 200 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Analyst Ratings Changes

LNN has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th.

Lindsay Stock Up 0.2 %

Shares of NYSE LNN opened at $130.82 on Friday. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $140.27. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 21.00 and a beta of 0.70. The stock has a 50 day moving average price of $132.13 and a 200 day moving average price of $126.61. 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 (NYSE:LNN) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. Sell-side analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. 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.