Lindsay Co. (NYSE:LNN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Lindsay Co. (NYSE:LNN) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,504 shares of the industrial products company’s stock after selling 3,369 shares during the quarter. Principal Financial Group Inc.’s holdings in Lindsay were worth $6,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LNN. Royce & Associates LP raised its stake in shares of Lindsay by 1.6% during the third quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock valued at $50,442,000 after purchasing an additional 6,253 shares during the period. KBC Group NV lifted its holdings in Lindsay by 32.7% in the 3rd quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock worth $42,768,000 after buying an additional 84,560 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Lindsay by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock valued at $41,975,000 after buying an additional 21,474 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Lindsay by 35.4% during the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after acquiring an additional 36,128 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Lindsay by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock worth $16,571,000 after acquiring an additional 5,007 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Trading Down 0.2 %

Shares of LNN opened at $118.31 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. Lindsay Co. has a one year low of $109.27 and a one year high of $135.20. The stock has a 50-day moving average price of $125.79 and a 200 day moving average price of $121.76. The company has a market capitalization of $1.28 billion, a P/E ratio of 19.65 and a beta of 0.64.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.16. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The business had revenue of $155.00 million during the quarter, compared to the consensus estimate of $145.37 million. During the same quarter last year, the company earned $1.74 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts forecast that Lindsay Co. will post 5.64 EPS for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.22%. Lindsay’s payout ratio is 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.