GSA Capital Partners LLP Cuts Holdings in Lindsay Co. (LNN)

GSA Capital Partners LLP reduced its position in shares of Lindsay Co. (NYSE:LNN) by 57.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,329 shares of the industrial products company’s stock after selling 4,566 shares during the quarter. GSA Capital Partners LLP’s holdings in Lindsay were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LNN. TIAA CREF Investment Management LLC boosted its stake in shares of Lindsay by 0.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock valued at $2,550,000 after purchasing an additional 238 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Lindsay by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,014,967 shares of the industrial products company’s stock valued at $90,586,000 after purchasing an additional 22,310 shares in the last quarter. State Street Corp boosted its position in Lindsay by 3.8% during the 2nd quarter. State Street Corp now owns 269,948 shares of the industrial products company’s stock worth $24,094,000 after buying an additional 9,763 shares during the period. Schroder Investment Management Group boosted its position in Lindsay by 14.5% during the 3rd quarter. Schroder Investment Management Group now owns 49,542 shares of the industrial products company’s stock worth $4,546,000 after buying an additional 6,282 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Lindsay by 5.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 74,168 shares of the industrial products company’s stock worth $6,620,000 after buying an additional 3,970 shares during the period. 93.97% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Co. (LNN) opened at $94.95 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.24 and a current ratio of 3.29. The stock has a market cap of $1,018.00, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.50. Lindsay Co. has a fifty-two week low of $73.34 and a fifty-two week high of $96.22.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The firm had revenue of $124.53 million during the quarter, compared to the consensus estimate of $117.11 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. sell-side analysts anticipate that Lindsay Co. will post 3.05 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, February 13th. Lindsay’s dividend payout ratio is currently 50.42%.

Several research firms have issued reports on LNN. TheStreet lowered shares of Lindsay from a “b-” rating to a “c” rating in a report on Tuesday, January 9th. Boenning Scattergood reiterated a “hold” rating on shares of Lindsay in a research note on Thursday, October 12th. Stifel Nicolaus lifted their price objective on shares of Lindsay from $76.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, October 13th. Finally, Zacks Investment Research lowered shares of Lindsay from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Lindsay has an average rating of “Hold” and an average price target of $95.25.

In related news, EVP David B. Downing sold 21,816 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.11, for a total value of $1,878,575.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Nahl sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $86.43, for a total transaction of $622,296.00. Following the completion of the transaction, the director now owns 3,687 shares in the company, valued at $318,667.41. The disclosure for this sale can be found here. Insiders sold a total of 55,281 shares of company stock worth $4,763,339 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

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Lindsay Profile

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.

Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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