Lindsay Co. (NYSE:LNN) Shares Sold by Nuance Investments LLC

Nuance Investments LLC lowered its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319,810 shares of the industrial products company's stock after selling 30,865 shares during the quarter. Nuance Investments LLC owned approximately 2.90% of Lindsay worth $41,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heartland Advisors Inc. bought a new position in shares of Lindsay during the third quarter worth about $4,744,000. GSA Capital Partners LLP grew its holdings in Lindsay by 223.3% in the 3rd quarter. GSA Capital Partners LLP now owns 15,213 shares of the industrial products company's stock worth $1,790,000 after buying an additional 10,507 shares in the last quarter. Quadrature Capital Ltd increased its position in Lindsay by 124.1% in the 3rd quarter. Quadrature Capital Ltd now owns 25,533 shares of the industrial products company's stock valued at $3,010,000 after acquiring an additional 14,138 shares during the period. Robeco Schweiz AG acquired a new position in Lindsay during the 3rd quarter worth $15,851,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Lindsay by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 41,403 shares of the industrial products company's stock worth $5,348,000 after purchasing an additional 4,560 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Stock Down 0.3 %

NYSE:LNN traded down $0.39 during trading hours on Friday, hitting $119.73. 68,515 shares of the stock traded hands, compared to its average volume of 91,634. The firm has a 50 day moving average price of $116.62 and a 200 day moving average price of $123.14. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 19.10 and a beta of 0.63. Lindsay Co. has a fifty-two week low of $106.46 and a fifty-two week high of $137.31. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24.

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

Lindsay Dividend Announcement

The business also recently disclosed 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay's payout ratio is presently 22.33%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LNN shares. StockNews.com cut shares of Lindsay from a "buy" rating to a "hold" rating in a report on Friday, April 12th. 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 research report on Friday, April 5th. Finally, TheStreet downgraded shares of Lindsay from a "b-" rating to a "c+" rating in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.33.

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.

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