Exchange Traded Concepts LLC Decreases Position in Lindsay Co. (NYSE:LNN)

Exchange Traded Concepts LLC cut its stake in Lindsay Co. (NYSE:LNN) by 55.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,335 shares of the industrial products company’s stock after selling 5,334 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Lindsay were worth $513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Lindsay by 746.5% during the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock valued at $6,168,000 after purchasing an additional 45,979 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after buying an additional 131 shares during the period. Barclays PLC grew its stake in shares of Lindsay by 248.8% during the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after buying an additional 13,986 shares during the last quarter. Pier Capital LLC raised its holdings in shares of Lindsay by 19.1% in the third 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 during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Lindsay by 35.4% during the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock worth $17,222,000 after acquiring an additional 36,128 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Up 1.0 %

NYSE:LNN opened at $136.35 on Friday. The company’s fifty day moving average price is $128.03 and its 200-day moving average price is $123.75. The firm has a market capitalization of $1.48 billion, a P/E ratio of 21.89 and a beta of 0.66. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

Lindsay (NYSE:LNN) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.18. The firm had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. As a group, equities research analysts anticipate that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. Lindsay’s dividend payout ratio is currently 23.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LNN shares. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus boosted their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th.

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.