Thrivent Financial for Lutherans Cuts Position in Lindsay Co. (NYSE:LNN)

Thrivent Financial for Lutherans reduced its position in Lindsay Co. (NYSE:LNN – Get Rating) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,263 shares of the industrial products company’s stock after selling 86 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lindsay were worth $1,834,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new stake in Lindsay in the first quarter valued at approximately $1,653,000. Bank of New York Mellon Corp lifted its stake in Lindsay by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 210,421 shares of the industrial products company’s stock worth $33,038,000 after purchasing an additional 3,062 shares during the last quarter. Citigroup Inc. lifted its stake in Lindsay by 3.5% during the first quarter. Citigroup Inc. now owns 15,228 shares of the industrial products company’s stock worth $2,391,000 after purchasing an additional 515 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Lindsay by 6.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,180 shares of the industrial products company’s stock valued at $498,000 after purchasing an additional 190 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Lindsay by 18.0% during the first quarter. Bank of Montreal Can now owns 3,460 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 527 shares in the last quarter. 84.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Roth Mkm lowered their target price on shares of Lindsay from $178.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, April 5th. StockNews.com began coverage on shares of Lindsay in a research note on Thursday. They issued a “hold” rating for the company. Finally, Stifel Nicolaus cut their target price on Lindsay from $196.00 to $166.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $154.75.

Lindsay Stock Down 0.9 %

LNN stock opened at $118.79 on Friday. Lindsay Co. has a 12 month low of $116.16 and a 12 month high of $183.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.62 and a quick ratio of 2.27. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 0.92 and a beta of 0.61. The company has a fifty day moving average price of $130.95 and a 200 day moving average price of $150.60.

Lindsay (NYSE:LNN – Get Rating) last announced its earnings results on Tuesday, April 4th. The industrial products company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. Lindsay had a net margin of 10.61% and a return on equity of 19.80%. The business had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $192.62 million. During the same period in the prior year, the company earned $1.32 earnings per share. The business’s revenue was down 16.9% compared to the same quarter last year. Sell-side analysts expect that Lindsay Co. will post 6.85 earnings per share for the current year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Wednesday, May 17th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, May 16th. This represents a $1.36 annualized dividend and a yield of 1.14%. Lindsay’s dividend payout ratio is currently 18.94%.

About Lindsay

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Lindsay Corp. engages in the manufacture and distribution of irrigation and infrastructure equipment and technology. It operates through the Irrigation and Infrastructure segments. The Irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications.