Prentiss Smith & Co. Inc. Reduces Stock Position in Lindsay Co. (NYSE:LNN)

Prentiss Smith & Co. Inc. lessened its stake in shares of Lindsay Co. (NYSE:LNN) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,582 shares of the industrial products company’s stock after selling 451 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in Lindsay were worth $979,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of Lindsay by 129.6% during the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 276 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Lindsay by 8.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,528 shares of the industrial products company’s stock worth $327,000 after buying an additional 196 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Lindsay by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,160 shares of the industrial products company’s stock worth $2,475,000 after buying an additional 240 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Lindsay in the fourth quarter worth approximately $710,000. Finally, Cardinal Capital Management boosted its holdings in shares of Lindsay by 1.9% in the fourth quarter. Cardinal Capital Management now owns 10,109 shares of the industrial products company’s stock worth $1,306,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lindsay Stock Performance

NYSE LNN traded up $0.97 on Thursday, reaching $117.34. 71,360 shares of the stock were exchanged, compared to its average volume of 88,020. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31. The firm has a market capitalization of $1.30 billion, a PE ratio of 18.71 and a beta of 0.61. The company’s 50-day simple moving average is $117.32 and its two-hundred day simple moving average is $122.91. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The company had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. During the same quarter last year, the business earned $1.63 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year. Analysts expect that Lindsay Co. will post 5.3 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, May 16th. Lindsay’s payout ratio is 22.33%.

Lindsay Profile

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.