Schroder Investment Management Group Grows Holdings in Lindsay Co. (NYSE:LNN)

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Schroder Investment Management Group increased its stake in shares of Lindsay Co. (NYSE:LNN) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,802 shares of the industrial products company’s stock after buying an additional 3,184 shares during the quarter. Schroder Investment Management Group owned about 0.53% of Lindsay worth $5,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Lindsay by 7.1% in the second quarter. BlackRock Inc. now owns 1,507,391 shares of the industrial products company’s stock worth $146,202,000 after acquiring an additional 99,369 shares during the period. Renaissance Technologies LLC increased its stake in shares of Lindsay by 2.4% during the second quarter. Renaissance Technologies LLC now owns 467,400 shares of the industrial products company’s stock worth $45,333,000 after purchasing an additional 10,900 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Lindsay by 1.1% during the second quarter. Voya Investment Management LLC now owns 370,635 shares of the industrial products company’s stock worth $35,948,000 after purchasing an additional 3,929 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lindsay by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 335,015 shares of the industrial products company’s stock worth $32,494,000 after purchasing an additional 2,170 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Lindsay by 0.5% during the first quarter. Northern Trust Corp now owns 139,978 shares of the industrial products company’s stock worth $12,799,000 after purchasing an additional 756 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

NYSE LNN traded down $1.33 during trading hours on Friday, hitting $105.67. 100,760 shares of the company’s stock traded hands, compared to its average volume of 124,511. Lindsay Co. has a 52-week low of $83.57 and a 52-week high of $109.50. The company has a current ratio of 4.13, a quick ratio of 3.14 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.16 billion, a PE ratio of 35.94, a P/E/G ratio of 1.91 and a beta of 0.41.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 18th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.38). Lindsay had a net margin of 3.70% and a return on equity of 11.53%. The firm had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $136.22 million. During the same period last year, the company earned $0.59 EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Lindsay Co. will post 3.15 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.24 annualized dividend and a dividend yield of 1.17%. Lindsay’s dividend payout ratio (DPR) is 42.18%.

A number of analysts have recently commented on the stock. Monness Crespi & Hardt set a $70.00 target price on shares of Lindsay and gave the stock a “sell” rating in a research note on Wednesday, September 19th. Zacks Investment Research raised shares of Lindsay from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Stifel Nicolaus upped their price objective on shares of Lindsay from $91.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, October 8th. Finally, ValuEngine cut shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $91.33.

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Lindsay Company 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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