Royce & Associates LP Sells 40,848 Shares of Lindsay Co. (NYSE:LNN)

Royce & Associates LP lessened its position in shares of Lindsay Co. (NYSE:LNN) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 363,853 shares of the industrial products company’s stock after selling 40,848 shares during the period. Royce & Associates LP’s holdings in Lindsay were worth $43,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LNN. US Bancorp DE raised its stake in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after buying an additional 84 shares during the last quarter. GSA Capital Partners LLP bought a new position in Lindsay during the third quarter worth $754,000. Intech Investment Management LLC increased its stake in Lindsay by 109.4% in the third quarter. Intech Investment Management LLC now owns 4,105 shares of the industrial products company’s stock valued at $512,000 after purchasing an additional 2,145 shares in the last quarter. John G Ullman & Associates Inc. increased its stake in Lindsay by 2.3% in the third quarter. John G Ullman & Associates Inc. now owns 58,875 shares of the industrial products company’s stock valued at $7,338,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Lindsay by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after purchasing an additional 5,007 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Trading Up 1.9 %

NYSE:LNN opened at $130.16 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The firm has a 50-day moving average of $131.32 and a 200-day moving average of $126.11. The company has a market cap of $1.41 billion, a PE ratio of 20.89 and a beta of 0.70. Lindsay Co. has a one year low of $109.27 and a one year high of $140.27.

Lindsay (NYSE:LNN) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, equities research analysts expect that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.36 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.11%. Lindsay’s payout ratio is presently 23.11%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Monday, February 17th.

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.