Invesco Ltd. Lowers Stake in Lindsay Co. (NYSE:LNN)

Invesco Ltd. trimmed its holdings in Lindsay Co. (NYSE:LNN - Free Report) by 27.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,889 shares of the industrial products company's stock after selling 58,006 shares during the quarter. Invesco Ltd. owned approximately 1.44% of Lindsay worth $18,562,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Lindsay by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company's stock worth $149,091,000 after buying an additional 10,649 shares in the last quarter. KBC Group NV raised its holdings in shares of Lindsay by 1.6% during the 4th quarter. KBC Group NV now owns 348,514 shares of the industrial products company's stock worth $41,233,000 after acquiring an additional 5,382 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Lindsay by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 146,122 shares of the industrial products company's stock valued at $17,288,000 after acquiring an additional 7,952 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lindsay by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,092 shares of the industrial products company's stock valued at $16,338,000 after purchasing an additional 5,140 shares in the last quarter. Finally, Lightrock Netherlands B.V. bought a new stake in Lindsay in the fourth quarter worth $11,396,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Trading Up 1.5 %

LNN traded up $1.90 during trading on Thursday, reaching $127.63. The company had a trading volume of 25,744 shares, compared to its average volume of 86,029. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The business has a 50 day simple moving average of $128.34 and a 200-day simple moving average of $126.97. The stock has a market cap of $1.39 billion, a P/E ratio of 20.49 and a beta of 0.72. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $140.27.

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 (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.55. The firm 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 business's revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the business earned $1.64 EPS. On average, equities analysts anticipate that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.13%. Lindsay's dividend payout ratio is 20.48%.

Analyst Ratings Changes

A number of equities analysts have commented on LNN shares. Stifel Nicolaus dropped their price objective on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a research note 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.