The Manufacturers Life Insurance Company Has $1.23 Million Holdings in Lindsay Co. (NYSE:LNN)

The Manufacturers Life Insurance Company cut its holdings in Lindsay Co. (NYSE:LNN) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,887 shares of the industrial products company’s stock after selling 391 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Lindsay were worth $1,232,000 at the end of the most recent reporting period.

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

Lindsay Stock Performance

Lindsay stock opened at $131.09 on Thursday. The business’s 50-day moving average price is $124.55 and its two-hundred day moving average price is $120.86. The stock has a market cap of $1.42 billion, a PE ratio of 21.78 and a beta of 0.64. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $135.20. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last released its earnings results 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. The business had revenue of $155.00 million during the quarter, compared to analysts’ expectations of $145.37 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.74 earnings per share. As a group, analysts expect that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. Lindsay’s payout ratio is currently 23.92%.

Lindsay Company 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.