Sei Investments Co. Decreases Stake in Lindsay Co. (NYSE:LNN)

Sei Investments Co. lessened its holdings in shares of Lindsay Co. (NYSE:LNN - Free Report) by 38.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,321 shares of the industrial products company's stock after selling 4,008 shares during the quarter. Sei Investments Co. owned about 0.06% of Lindsay worth $748,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in shares of Lindsay by 8.3% in the third quarter. BNP Paribas Financial Markets now owns 5,026 shares of the industrial products company's stock valued at $626,000 after purchasing an additional 384 shares in the last quarter. Verition Fund Management LLC boosted its stake in Lindsay by 21.1% in the 3rd quarter. Verition Fund Management LLC now owns 4,333 shares of the industrial products company's stock worth $540,000 after purchasing an additional 754 shares during the period. Quadrature Capital Ltd grew its holdings in Lindsay by 6.8% during the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company's stock valued at $392,000 after buying an additional 200 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Lindsay by 35.4% during the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company's stock valued at $17,222,000 after buying an additional 36,128 shares during the period. Finally, Barclays PLC increased its position in shares of Lindsay by 248.8% during the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock valued at $2,446,000 after buying an additional 13,986 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LNN shares. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday. Stifel Nicolaus raised their price target on shares of Lindsay from $130.00 to $134.00 and gave the company a "hold" rating in a report on Friday, April 4th.

Lindsay Price Performance

NYSE:LNN traded up $3.81 during midday trading on Friday, hitting $127.30. The company had a trading volume of 69,693 shares, compared to its average volume of 86,723. The company has a market capitalization of $1.38 billion, a PE ratio of 20.43 and a beta of 0.72. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $140.27. The stock's fifty day moving average price is $129.27 and its 200-day moving average price is $126.92.

Lindsay (NYSE:LNN - Get Free Report) last issued its quarterly 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 return on equity of 13.17% and a net margin of 11.18%. The company's revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. As a group, research analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

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

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.