Jane Street Group LLC Has $2.69 Million Stock Position in Lindsay Co. (NYSE:LNN)

Jane Street Group LLC cut its holdings in Lindsay Co. (NYSE:LNN) by 58.1% during the third quarter, HoldingsChannel reports. The firm owned 21,542 shares of the industrial products company’s stock after selling 29,849 shares during the period. Jane Street Group LLC’s holdings in Lindsay were worth $2,685,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Atom Investors LP bought a new stake in shares of Lindsay during the third quarter valued at approximately $731,000. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Lindsay during the 2nd quarter valued at about $1,327,000. Deprince Race & Zollo Inc. bought a new stake in Lindsay in the second quarter valued at about $6,402,000. Victory Capital Management Inc. raised its position in Lindsay by 139.4% in the second quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock worth $1,446,000 after purchasing an additional 6,853 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in Lindsay during the second quarter worth about $2,111,000. 89.94% of the stock is owned by institutional investors.

Lindsay Stock Down 0.4 %

NYSE LNN opened at $122.61 on Friday. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $135.20. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 20.37 and a beta of 0.64. The stock’s 50 day moving average is $125.20 and its two-hundred day moving average is $121.42. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The firm had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $145.37 million. During the same period in the prior year, the business posted $1.74 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. Equities analysts forecast that Lindsay Co. will post 5.64 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s dividend payout ratio is currently 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.