Stephens Investment Management Group LLC Lowers Stock Holdings in Lindsay Co. (NYSE:LNN)

Stephens Investment Management Group LLC trimmed its position in shares of Lindsay Co. (NYSE:LNN) by 15.3% in the third quarter, HoldingsChannel.com reports. The fund owned 87,835 shares of the industrial products company’s stock after selling 15,876 shares during the period. Stephens Investment Management Group LLC’s holdings in Lindsay were worth $10,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. CWM LLC raised its position in Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 92 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Lindsay in the 1st quarter valued at about $145,000. Intech Investment Management LLC acquired a new stake in Lindsay in the 2nd quarter valued at about $241,000. Finally, Quantbot Technologies LP acquired a new stake in Lindsay in the 1st quarter valued at about $239,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Price Performance

LNN stock opened at $120.01 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $135.05. The firm has a market capitalization of $1.30 billion, a P/E ratio of 19.94 and a beta of 0.61. The business’s 50-day moving average is $120.66 and its two-hundred day moving average is $118.64.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.16. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The business had revenue of $155.00 million for the quarter, compared to analyst estimates of $145.37 million. During the same quarter last year, the company earned $1.74 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Analysts anticipate that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, November 15th. Lindsay’s dividend payout ratio (DPR) is 23.92%.

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.