Sumitomo Mitsui Trust Holdings Inc. Increases Stock Holdings in Lindsay Co. (NYSE:LNN)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Lindsay Co. (NYSE:LNN) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,160 shares of the industrial products company’s stock after buying an additional 240 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.17% of Lindsay worth $2,475,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Heartland Advisors Inc. acquired a new position in Lindsay in the third quarter valued at about $4,744,000. GSA Capital Partners LLP lifted its position in Lindsay by 223.3% in the third quarter. GSA Capital Partners LLP now owns 15,213 shares of the industrial products company’s stock valued at $1,790,000 after buying an additional 10,507 shares during the last quarter. Quadrature Capital Ltd lifted its position in Lindsay by 124.1% in the third quarter. Quadrature Capital Ltd now owns 25,533 shares of the industrial products company’s stock valued at $3,010,000 after buying an additional 14,138 shares during the last quarter. Robeco Schweiz AG acquired a new position in Lindsay in the third quarter valued at about $15,851,000. Finally, Assenagon Asset Management S.A. lifted its position in Lindsay by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 41,403 shares of the industrial products company’s stock valued at $5,348,000 after buying an additional 4,560 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LNN. StockNews.com cut shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Friday, April 5th. Finally, TheStreet cut shares of Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Lindsay Stock Down 2.2 %

Shares of NYSE:LNN opened at $116.37 on Thursday. The firm’s 50 day moving average price is $117.48 and its 200 day moving average price is $122.94. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 18.56 and a beta of 0.61. Lindsay Co. has a fifty-two week low of $106.46 and a fifty-two week high of $137.31. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. The firm had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 earnings per share. As a group, equities research analysts predict that Lindsay Co. will post 5.46 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 annualized dividend and a yield of 1.20%. Lindsay’s dividend payout ratio is currently 22.33%.

About Lindsay

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.