BNP Paribas Financial Markets Lowers Stake in Lindsay Co. (NYSE:LNN)

BNP Paribas Financial Markets lowered its position in shares of Lindsay Co. (NYSE:LNN - Free Report) by 44.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,810 shares of the industrial products company's stock after selling 2,216 shares during the quarter. BNP Paribas Financial Markets' holdings in Lindsay were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. AlphaQuest LLC purchased a new stake in shares of Lindsay in the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC grew its holdings 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 worth $109,000 after buying an additional 86 shares during the last quarter. Van ECK Associates Corp grew 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 buying an additional 623 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Lindsay by 729.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock valued at $202,000 after purchasing an additional 1,503 shares during the period. Finally, Gitterman Wealth Management LLC lifted its position in shares of Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock valued at $207,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Price Performance

Shares of LNN stock traded down $0.54 during trading hours on Friday, hitting $140.21. The company had a trading volume of 22,886 shares, compared to its average volume of 84,704. Lindsay Co. has a 12 month low of $109.27 and a 12 month high of $143.69. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 22.50 and a beta of 0.81. The firm's fifty day moving average is $130.74 and its 200 day moving average is $129.65. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings results 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. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same quarter in the prior year, the business posted $1.64 EPS. The firm's quarterly revenue was up 23.5% on a year-over-year basis. On average, sell-side analysts predict that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.03%. Lindsay's dividend payout ratio (DPR) is presently 20.48%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LNN. Wall Street Zen raised shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Stifel Nicolaus dropped their price objective on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating on the stock in a research note 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.