Stephens Investment Management Group LLC Lowers Position in Lindsay Co. (NYSE:LNN)

Stephens Investment Management Group LLC lessened its stake in Lindsay Co. (NYSE:LNN) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,835 shares of the industrial products company’s stock after selling 15,876 shares during the period. Stephens Investment Management Group LLC owned about 0.81% of Lindsay worth $10,948,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Heartland Advisors Inc. raised its stake in shares of Lindsay by 26.8% during the 1st quarter. Heartland Advisors Inc. now owns 53,003 shares of the industrial products company’s stock worth $6,236,000 after buying an additional 11,207 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new position in Lindsay in the 2nd quarter valued at $1,327,000. Victory Capital Management Inc. raised its stake in Lindsay by 139.4% in the 2nd quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock valued at $1,446,000 after purchasing an additional 6,853 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new position in Lindsay in the 2nd quarter valued at $6,402,000. Finally, Panagora Asset Management Inc. acquired a new position in Lindsay in the 2nd quarter valued at $2,111,000. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Stock Up 0.3 %

NYSE LNN opened at $120.01 on Friday. The business has a fifty day moving average price of $120.66 and a 200 day moving average price of $118.64. Lindsay Co. has a one year low of $109.27 and a one year high of $135.05. 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 has a market cap of $1.30 billion, a P/E ratio of 19.94 and a beta of 0.61.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $155.00 million during the quarter, compared to the consensus estimate of $145.37 million. During the same period last year, the company earned $1.74 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Research analysts anticipate that Lindsay Co. will post 5.66 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, November 15th. Lindsay’s dividend payout ratio is presently 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.