Two Sigma Investments LP Cuts Stock Position in Lindsay Co. (NYSE:LNN)

Two Sigma Investments LP lowered its position in Lindsay Co. (NYSE:LNN - Free Report) by 45.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,310 shares of the industrial products company's stock after selling 2,708 shares during the period. Two Sigma Investments LP's holdings in Lindsay were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its position 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. AlphaQuest LLC bought a new position in shares of Lindsay in the 4th quarter worth approximately $32,000. Principal Financial Group Inc. lifted its stake in shares of Lindsay by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company's stock worth $6,368,000 after purchasing an additional 1,324 shares during the period. Franklin Resources Inc. purchased a new position in shares of Lindsay in the fourth quarter worth approximately $292,000. Finally, American Century Companies Inc. grew its position in Lindsay by 5.4% during the fourth quarter. American Century Companies Inc. now owns 43,802 shares of the industrial products company's stock valued at $5,182,000 after buying an additional 2,229 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Stock Performance

LNN traded up $0.27 during midday trading on Thursday, reaching $137.50. The company had a trading volume of 16,965 shares, compared to its average volume of 84,407. The business has a 50-day moving average of $132.50 and a two-hundred day moving average of $130.35. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $144.08. The company has a market cap of $1.49 billion, a P/E ratio of 22.07 and a beta of 0.82.

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

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.05%. Lindsay's payout ratio is currently 20.48%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stifel Nicolaus reduced their target price on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Wall Street Zen raised shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th.

Lindsay 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.