Duff & Phelps Investment Management Co. Reduces Stock Position in Lindsay Co. (NYSE:LNN)

Duff & Phelps Investment Management Co. decreased its holdings in shares of Lindsay Co. (NYSE:LNN - Free Report) by 60.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,384 shares of the industrial products company's stock after selling 37,116 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.22% of Lindsay worth $3,149,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Cardinal Capital Management increased its position in Lindsay by 1.9% during the fourth quarter. Cardinal Capital Management now owns 10,109 shares of the industrial products company's stock valued at $1,306,000 after acquiring an additional 188 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lindsay by 8.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,528 shares of the industrial products company's stock valued at $327,000 after acquiring an additional 196 shares during the last quarter. Swiss National Bank increased its position in Lindsay by 0.8% during the third quarter. Swiss National Bank now owns 24,200 shares of the industrial products company's stock valued at $2,848,000 after acquiring an additional 200 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Lindsay in the fourth quarter worth about $28,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Lindsay by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,160 shares of the industrial products company's stock worth $2,475,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 89.94% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TheStreet cut shares of Lindsay from a "b-" rating to a "c+" rating in a report on Tuesday, March 5th. StockNews.com cut shares of Lindsay from a "buy" rating to a "hold" rating in a report on Friday, April 12th. Finally, Northcoast Research upgraded shares of Lindsay from a "neutral" rating to a "buy" rating and set a $142.00 price target on the stock in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.33.

Lindsay Stock Up 0.9 %

NYSE:LNN traded up $1.08 during mid-day trading on Wednesday, reaching $117.23. The company's stock had a trading volume of 99,877 shares, compared to its average volume of 87,884. Lindsay Co. has a 1 year low of $106.46 and a 1 year high of $137.31. The stock has a fifty day moving average of $116.92 and a 200-day moving average of $123.05. The firm has a market capitalization of $1.29 billion, a PE ratio of 18.54 and a beta of 0.61. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN - Get Free Report) last released its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.12. The company had revenue of $151.50 million during the quarter, compared to analyst estimates of $172.06 million. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The firm's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. Equities research analysts forecast that Lindsay Co. will post 5.3 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, May 16th. Lindsay's payout ratio is 22.33%.

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.