Illinois Municipal Retirement Fund Sells 286 Shares of Lindsay Co. (NYSE:LNN)

Illinois Municipal Retirement Fund lowered its stake in Lindsay Co. (NYSE:LNN) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,861 shares of the industrial products company’s stock after selling 286 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of Lindsay worth $693,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LNN. US Bancorp DE raised its holdings in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after buying an additional 84 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 131 shares during the period. Global Retirement Partners LLC raised its stake in shares of Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 86 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 623 shares during the period. Finally, 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 purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LNN. StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Stifel Nicolaus upped their target price on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, January 8th.

Lindsay Price Performance

Shares of NYSE LNN opened at $128.27 on Tuesday. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.26. The stock has a market capitalization of $1.39 billion, a P/E ratio of 20.59 and a beta of 0.67. The company’s 50-day moving average is $129.55 and its 200 day moving average is $125.68. 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 for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 EPS. On average, sell-side analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.12%. Lindsay’s dividend payout ratio (DPR) is 23.11%.

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.