Van ECK Associates Corp lowered its holdings in shares of Lindsay Co. (NYSE:LNN) by 10.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,611 shares of the industrial products company’s stock after selling 190 shares during the period. Van ECK Associates Corp’s holdings in Lindsay were worth $155,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Pearl River Capital LLC acquired a new position in Lindsay in the 4th quarter valued at $87,000. Keybank National Association OH acquired a new position in Lindsay in the 3rd quarter valued at $200,000. Everence Capital Management Inc. acquired a new position in Lindsay in the 4th quarter valued at $211,000. PNC Financial Services Group Inc. grew its stake in Lindsay by 6.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,424 shares of the industrial products company’s stock valued at $329,000 after buying an additional 193 shares during the last quarter. Finally, Allred Capital Management LLC acquired a new position in Lindsay in the 4th quarter valued at $335,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

NYSE LNN opened at $94.66 on Friday. The company has a current ratio of 3.92, a quick ratio of 2.85 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 1.90 and a beta of 0.32. Lindsay Co. has a 52-week low of $83.57 and a 52-week high of $109.50.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 8th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.09). The company had revenue of $111.95 million during the quarter, compared to analyst estimates of $113.57 million. Lindsay had a return on equity of 11.80% and a net margin of 3.42%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. Research analysts forecast that Lindsay Co. will post 2.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th were given a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, February 13th. This represents a $1.24 annualized dividend and a yield of 1.31%. Lindsay’s dividend payout ratio is 42.18%.

A number of research analysts recently issued reports on LNN shares. Boenning Scattergood reiterated a “buy” rating and issued a $132.00 target price on shares of Lindsay in a research note on Tuesday, January 8th. TheStreet lowered shares of Lindsay from a “b” rating to a “c+” rating in a research note on Tuesday, January 8th. Zacks Investment Research upgraded shares of Lindsay from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, ValuEngine lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $102.60.

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Lindsay Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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