Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Lindsay Co. (NYSE:LNN)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Lindsay Co. (NYSE:LNN) by 24.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,393 shares of the industrial products company’s stock after selling 7,741 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lindsay were worth $2,768,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LNN. AlphaQuest LLC purchased a new position in Lindsay during the 4th quarter valued at about $32,000. GAMMA Investing LLC increased its holdings in Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 131 shares in the last quarter. US Bancorp DE increased 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 in the last quarter. Global Retirement Partners LLC increased its holdings in Lindsay by 10.3% during the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 86 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Lindsay by 73.1% during the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 623 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Price Performance

Lindsay stock opened at $130.16 on Friday. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $140.27. The stock has a market capitalization of $1.41 billion, a P/E ratio of 20.89 and a beta of 0.70. The firm’s 50-day moving average is $131.32 and its two-hundred day moving average is $126.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

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

Lindsay Announces Dividend

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

Wall Street Analyst Weigh In

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

Lindsay Company 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.