Lindsay Co. (NYSE:LNN) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in Lindsay Co. (NYSE:LNN) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,137 shares of the industrial products company’s stock after selling 295 shares during the quarter. Geode Capital Management LLC’s holdings in Lindsay were worth $30,809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LNN. Barclays PLC boosted its stake in shares of Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after purchasing an additional 13,986 shares during the period. Pier Capital LLC lifted its holdings in Lindsay by 19.1% during the 3rd quarter. Pier Capital LLC now owns 71,246 shares of the industrial products company’s stock worth $8,880,000 after buying an additional 11,446 shares in the last quarter. Wellington Management Group LLP boosted its position in Lindsay by 35.4% in the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after buying an additional 36,128 shares during the period. Quadrature Capital Ltd grew its stake in shares of Lindsay by 6.8% in the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock worth $392,000 after acquiring an additional 200 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Lindsay by 46.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 74,950 shares of the industrial products company’s stock worth $9,342,000 after acquiring an additional 23,710 shares during the period. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Stock Up 0.6 %

Shares of NYSE LNN opened at $122.47 on Thursday. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $135.20. The stock has a market cap of $1.33 billion, a P/E ratio of 20.34 and a beta of 0.64. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $125.34 and its 200-day simple moving average is $121.65.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $155.00 million during the quarter, compared to analysts’ expectations of $145.37 million. During the same quarter last year, the business posted $1.74 EPS. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts predict that Lindsay Co. will post 5.64 EPS for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s dividend 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.