Lindsay Corporation $LNN Shares Sold by KBC Group NV

Key Points

• KBC Group NV reduced its stake by 15.6% in Lindsay during Q4, selling 43,225 shares and ending the quarter with 233,835 shares (about 2.24% of the company) valued at $27.56 million.
• Lindsay reported Q1 EPS of $1.15 versus a $1.60 consensus and revenue of $157.72 million, a 15.7% year-over-year decline, missing analysts' estimates.
• The company declared a quarterly dividend of $0.37 per share (annualized $1.48, yield 1.4%; ex-dividend May 15), while analysts' consensus is a "Reduce" rating with an average target price of $113 after recent downgrades.

KBC Group NV lessened its holdings in Lindsay Corporation (NYSE:LNN - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,835 shares of the industrial products company's stock after selling 43,225 shares during the quarter. KBC Group NV owned approximately 2.24% of Lindsay worth $27,562,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LNN. Chatham Capital Group Inc. acquired a new position in shares of Lindsay during the third quarter valued at $1,725,000. SG Americas Securities LLC boosted its holdings in shares of Lindsay by 505.3% during the third quarter. SG Americas Securities LLC now owns 16,518 shares of the industrial products company's stock valued at $2,322,000 after acquiring an additional 13,789 shares during the period. Pier Capital LLC boosted its holdings in shares of Lindsay by 34.0% during the third quarter. Pier Capital LLC now owns 71,799 shares of the industrial products company's stock valued at $10,092,000 after acquiring an additional 18,205 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Lindsay by 286.1% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 9,888 shares of the industrial products company's stock valued at $1,390,000 after acquiring an additional 7,327 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Lindsay by 6.3% during the third quarter. HighTower Advisors LLC now owns 71,635 shares of the industrial products company's stock valued at $10,069,000 after acquiring an additional 4,273 shares during the period. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Price Performance

Shares of NYSE LNN opened at $108.61 on Friday. Lindsay Corporation has a fifty-two week low of $97.27 and a fifty-two week high of $150.96. The firm's 50-day simple moving average is $122.88 and its 200 day simple moving average is $122.24. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.13 billion, a P/E ratio of 19.89 and a beta of 0.82.

Lindsay (NYSE:LNN - Get Free Report) last issued its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share for the quarter, missing analysts' consensus estimates of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The company had revenue of $157.72 million for the quarter, compared to the consensus estimate of $163.52 million. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Lindsay's revenue for the quarter was down 15.7% compared to the same quarter last year. Equities analysts expect that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, May 15th. Lindsay's payout ratio is currently 27.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Lindsay from $128.00 to $113.00 and set a "hold" rating for the company in a report on Monday, April 6th. Zacks Research downgraded shares of Lindsay from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $113.00.

Lindsay Profile

Lindsay Corporation NYSE: LNN is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.

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