Alambic Investment Management L.P. Sells 18,722 Shares of Lindsay Co. (LNN)
Alambic Investment Management L.P. lowered its holdings in Lindsay Co. (NYSE:LNN) by 80.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,428 shares of the industrial products company’s stock after selling 18,722 shares during the quarter. Alambic Investment Management L.P.’s holdings in Lindsay were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Flinton Capital Management LLC boosted its holdings in Lindsay by 72.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after purchasing an additional 544 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Lindsay in the 2nd quarter valued at about $205,000. Crossmark Global Holdings Inc. bought a new stake in Lindsay in the 3rd quarter valued at about $224,000. OxFORD Asset Management LLP bought a new stake in Lindsay in the 2nd quarter valued at about $219,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Lindsay in the 3rd quarter valued at about $246,000. 94.01% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c” rating in a report on Tuesday, January 9th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay in a report on Thursday, October 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $91.00 price target on shares of Lindsay in a report on Thursday, December 14th. Finally, Zacks Investment Research downgraded shares of Lindsay from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Lindsay has a consensus rating of “Hold” and a consensus price target of $95.25.
Shares of Lindsay Co. (NYSE LNN) opened at $89.61 on Friday. Lindsay Co. has a twelve month low of $74.04 and a twelve month high of $96.22. The company has a current ratio of 3.29, a quick ratio of 2.24 and a debt-to-equity ratio of 0.43. The firm has a market cap of $960.74, a P/E ratio of 37.65, a PEG ratio of 1.97 and a beta of 0.36.
Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The firm had revenue of $124.53 million for the quarter, compared to the consensus estimate of $117.11 million. During the same period last year, the company posted $0.08 EPS. The business’s revenue was up 12.8% on a year-over-year basis. research analysts forecast that Lindsay Co. will post 3.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 13th. Lindsay’s dividend payout ratio (DPR) is presently 50.42%.
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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