Wellington Management Group LLP Purchases 36,128 Shares of Lindsay Co. (NYSE:LNN)

Wellington Management Group LLP increased its position in Lindsay Co. (NYSE:LNN) by 35.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 138,170 shares of the industrial products company’s stock after buying an additional 36,128 shares during the period. Wellington Management Group LLP’s holdings in Lindsay were worth $17,222,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. US Bancorp DE lifted its position in shares of Lindsay by 45.9% in the third 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 in the last quarter. CWM LLC raised its stake in Lindsay by 16.8% during the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 92 shares during the period. Intech Investment Management LLC purchased a new position in Lindsay in the 2nd quarter worth approximately $241,000. SG Americas Securities LLC bought a new position in Lindsay in the 2nd quarter worth approximately $279,000. Finally, Point72 Asset Management L.P. grew its holdings in 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 valued at $340,000 after buying an additional 2,567 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

LNN stock opened at $130.66 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. The company’s fifty day moving average price is $124.87 and its 200-day moving average price is $121.10. 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 $1.42 billion, a PE ratio of 21.70 and a beta of 0.64.

Lindsay (NYSE:LNN) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $145.37 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 EPS. On average, equities analysts anticipate that Lindsay Co. will post 5.64 EPS for the current fiscal year.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid 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, November 15th. Lindsay’s payout ratio is presently 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.