Lindsay Co. (NYSE:LNN) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Lindsay Co. (NYSE:LNN – Get Rating) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 69,166 shares of the industrial products company’s stock after selling 451 shares during the quarter. Principal Financial Group Inc.’s holdings in Lindsay were worth $11,264,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LNN. Raymond James & Associates bought a new position in shares of Lindsay in the first quarter valued at $1,653,000. Bank of New York Mellon Corp grew its position in Lindsay by 1.5% during the 1st 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 in the last quarter. Citigroup Inc. grew its position in Lindsay by 3.5% during the 1st 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 in the last quarter. PNC Financial Services Group Inc. grew its position in Lindsay by 6.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,180 shares of the industrial products company’s stock worth $498,000 after purchasing an additional 190 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Lindsay by 18.0% during the 1st 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. Institutional investors own 84.79% of the company’s stock.

Lindsay Trading Up 0.8 %

Lindsay stock opened at $119.02 on Friday. The company’s fifty day simple moving average is $129.19 and its 200-day simple moving average is $149.36. The company has a quick ratio of 2.27, a current ratio of 3.62 and a debt-to-equity ratio of 0.27. Lindsay Co. has a 12 month low of $116.16 and a 12 month high of $183.08. The stock has a market cap of $1.31 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.93 and a beta of 0.61.

Lindsay (NYSE:LNN – Get Rating) last posted its quarterly earnings results on Tuesday, April 4th. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $192.62 million. During the same period in the previous year, the company posted $1.32 EPS. Lindsay’s revenue was down 16.9% on a year-over-year basis. As a group, sell-side analysts forecast that Lindsay Co. will post 6.85 EPS for the current fiscal year.

Lindsay Dividend Announcement

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

Analyst Upgrades and Downgrades

LNN has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Lindsay in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stifel Nicolaus lowered their price objective on shares of Lindsay from $196.00 to $166.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. Finally, Roth Mkm lowered their price objective on shares of Lindsay from $178.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 5th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $154.75.

Lindsay Company Profile

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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.