SG Americas Securities LLC Trims Stock Holdings in Lindsay Co. (NYSE:LNN)

SG Americas Securities LLC cut its position in Lindsay Co. (NYSE:LNN - Free Report) by 84.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,843 shares of the industrial products company's stock after selling 10,268 shares during the quarter. SG Americas Securities LLC's holdings in Lindsay were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LNN. Raymond James & Associates purchased a new stake in Lindsay in the 1st quarter worth approximately $1,653,000. Bank of New York Mellon Corp raised its position in shares of Lindsay by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 210,421 shares of the industrial products company's stock valued at $33,038,000 after buying an additional 3,062 shares in the last quarter. Citigroup Inc. raised its position in shares of Lindsay by 3.5% during the 1st quarter. Citigroup Inc. now owns 15,228 shares of the industrial products company's stock valued at $2,391,000 after buying an additional 515 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Lindsay by 6.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,180 shares of the industrial products company's stock valued at $498,000 after buying an additional 190 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Lindsay by 18.0% during the 1st quarter. Bank of Montreal Can now owns 3,460 shares of the industrial products company's stock valued at $536,000 after buying an additional 527 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Trading Down 0.6 %

Lindsay stock traded down $0.66 during trading hours on Friday, reaching $114.56. The stock had a trading volume of 78,312 shares, compared to its average volume of 86,813. Lindsay Co. has a 52 week low of $106.46 and a 52 week high of $137.31. The stock has a market cap of $1.26 billion, a PE ratio of 18.27 and a beta of 0.61. The company has a fifty day simple moving average of $119.49 and a 200-day simple moving average of $122.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58.

Lindsay (NYSE:LNN - Get Free Report) last issued its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The company had revenue of $151.50 million during the quarter, compared to analysts' expectations of $172.06 million. During the same period last year, the company posted $1.63 EPS. Lindsay's revenue was down 8.8% on a year-over-year basis. Analysts forecast that Lindsay Co. will post 5.46 EPS for the current fiscal year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.22%. Lindsay's dividend payout ratio (DPR) is currently 22.33%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LNN shares. StockNews.com cut shares of Lindsay from a "buy" rating to a "hold" rating in a research report on Friday. Northcoast Research upgraded shares of Lindsay from a "neutral" rating to a "buy" rating and set a $142.00 price objective on the stock in a research report on Friday, April 5th. TheStreet lowered shares of Lindsay from a "b-" rating to a "c+" rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus reduced their target price on shares of Lindsay from $129.00 to $123.00 and set a "hold" rating on the stock in a report on Tuesday, December 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Lindsay has a consensus rating of "Moderate Buy" and an average target price of $138.33.

About Lindsay

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.