Lindsay Co. (NYSE:LNN) Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lessened its holdings in shares of Lindsay Co. (NYSE:LNN - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,761 shares of the industrial products company's stock after selling 14,011 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.72% of Lindsay worth $9,318,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Lightrock Netherlands B.V. acquired a new stake in Lindsay in the fourth quarter valued at approximately $11,396,000. T. Rowe Price Investment Management Inc. grew its position in shares of Lindsay by 37.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company's stock valued at $39,164,000 after buying an additional 89,373 shares during the last quarter. SG Americas Securities LLC raised its stake 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 worth $6,168,000 after acquiring an additional 45,979 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Lindsay during the fourth quarter worth about $5,088,000. Finally, JPMorgan Chase & Co. increased its position in shares of Lindsay by 304.7% during the fourth quarter. JPMorgan Chase & Co. now owns 41,640 shares of the industrial products company's stock worth $4,926,000 after purchasing an additional 31,351 shares in 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 equities research analysts have weighed in on LNN shares. Stifel Nicolaus reduced their price objective on Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th.

Lindsay Price Performance

LNN stock traded down $1.52 during trading on Wednesday, hitting $137.38. The stock had a trading volume of 24,881 shares, compared to its average volume of 81,353. The company's 50 day moving average price is $128.19 and its two-hundred day moving average price is $128.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 22.05 and a beta of 0.81. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.68.

Lindsay (NYSE:LNN - Get Free Report) last issued its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same quarter last year, the firm posted $1.64 EPS. The business's revenue for the quarter was up 23.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, May 16th. Lindsay's payout ratio is 20.48%.

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.