Lazard Asset Management LLC Reduces Stock Holdings in Lindsay Co. (NYSE:LNN)

Lazard Asset Management LLC reduced its stake in Lindsay Co. (NYSE:LNN - Free Report) by 35.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,246 shares of the industrial products company's stock after selling 4,601 shares during the period. Lazard Asset Management LLC owned approximately 0.08% of Lindsay worth $975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. AlphaQuest LLC bought a new position in shares of Lindsay during the 4th quarter valued at approximately $32,000. Global Retirement Partners LLC raised its stake in 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 purchasing an additional 86 shares in the last quarter. Van ECK Associates Corp lifted its position in Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 623 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Lindsay by 729.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock worth $202,000 after buying an additional 1,503 shares in the last quarter. Finally, Gitterman Wealth Management LLC increased its holdings in shares of Lindsay by 6.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock worth $207,000 after buying an additional 101 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors.

Lindsay Trading Up 0.5%

Shares of LNN traded up $0.67 during midday trading on Monday, hitting $137.75. The stock had a trading volume of 92,580 shares, compared to its average volume of 84,798. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $143.69. The firm has a market cap of $1.50 billion, a PE ratio of 22.11 and a beta of 0.81. The stock's 50 day moving average is $129.99 and its 200 day moving average is $129.42. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.55. The company had revenue of $187.10 million during the quarter, compared to analyst estimates of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. As a group, analysts forecast that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.05%. Lindsay's payout ratio is currently 20.48%.

Analyst Ratings Changes

Several research firms recently commented on LNN. Wall Street Zen upgraded Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus cut their target price on Lindsay from $134.00 to $128.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th.

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.