D. E. Shaw & Co. Inc. Sells 10,897 Shares of Lindsay Co. (NYSE:LNN)

D. E. Shaw & Co. Inc. cut its stake in Lindsay Co. (NYSE:LNN - Free Report) by 40.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,163 shares of the industrial products company's stock after selling 10,897 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.15% of Lindsay worth $1,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock worth $2,446,000 after purchasing an additional 13,986 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Lindsay during the 4th quarter valued at $679,000. AlphaQuest LLC purchased a new position in shares of Lindsay in the 4th quarter worth $32,000. Principal Financial Group Inc. grew its holdings in shares of Lindsay by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company's stock worth $6,368,000 after acquiring an additional 1,324 shares during the period. Finally, KBC Group NV increased its position in Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company's stock valued at $41,233,000 after acquiring an additional 5,382 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LNN shares. Wall Street Zen raised Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus lowered 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 Stock Performance

Shares of Lindsay stock traded up $2.12 on Tuesday, hitting $140.10. 124,561 shares of the company's stock were exchanged, compared to its average volume of 84,957. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $143.69. The company has a 50-day simple moving average of $130.24 and a 200-day simple moving average of $129.49. 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 capitalization of $1.52 billion, a PE ratio of 22.49 and a beta of 0.81.

Lindsay (NYSE:LNN - Get Free Report) last released its 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 net margin of 11.18% and a return on equity of 13.17%. The company had revenue of $187.10 million for the quarter, compared to analysts' expectations of $174.50 million. During the same quarter in the previous year, the company earned $1.64 EPS. Lindsay's revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities analysts anticipate that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, May 16th. Lindsay's dividend payout ratio (DPR) 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.