State Street Corp Sells 787 Shares of Lindsay Co. (NYSE:LNN)

State Street Corp decreased its holdings in shares of Lindsay Co. (NYSE:LNN) by 0.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 449,701 shares of the industrial products company’s stock after selling 787 shares during the period. State Street Corp’s holdings in Lindsay were worth $56,051,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its holdings in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. CWM LLC grew its holdings in shares of Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 92 shares during the last quarter. Intech Investment Management LLC purchased a new position in Lindsay in the 2nd quarter worth about $241,000. SG Americas Securities LLC bought a new stake in Lindsay during the 2nd quarter valued at about $279,000. Finally, Point72 Asset Management L.P. boosted its position in Lindsay by 1,283.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock valued at $340,000 after buying an additional 2,567 shares during the period. Institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

Shares of LNN stock opened at $122.51 on Thursday. The company’s 50-day simple moving average is $125.12 and its two-hundred day simple moving average is $121.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. Lindsay Co. has a one year low of $109.27 and a one year high of $135.20. The company has a market capitalization of $1.33 billion, a P/E ratio of 20.35 and a beta of 0.64.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 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 company had revenue of $155.00 million for the quarter, compared to the consensus estimate of $145.37 million. During the same period last year, the business posted $1.74 EPS. Lindsay’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Lindsay Co. will post 5.64 EPS for the current year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, November 15th. Lindsay’s dividend payout ratio (DPR) is presently 23.92%.

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.