Royce & Associates LP Increases Stake in Lindsay Co. (NYSE:LNN)

Royce & Associates LP grew its stake in shares of Lindsay Co. (NYSE:LNN) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 404,701 shares of the industrial products company’s stock after purchasing an additional 6,253 shares during the quarter. Royce & Associates LP owned approximately 3.73% of Lindsay worth $50,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its position in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after buying an additional 84 shares during the period. CWM LLC grew its stake in shares of Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 92 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Lindsay by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund Corp increased its holdings in Lindsay by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 9,654 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 143 shares during the period. Finally, Rodgers Brothers Inc. raised its position in Lindsay by 0.4% during the 1st quarter. Rodgers Brothers Inc. now owns 49,760 shares of the industrial products company’s stock valued at $5,855,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

Shares of LNN stock opened at $124.41 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. The firm has a market cap of $1.35 billion, a P/E ratio of 20.67 and a beta of 0.61. The business’s 50 day moving average price is $121.35 and its 200-day moving average price is $119.22. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $135.05.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. The business had revenue of $155.00 million for the quarter, compared to the consensus estimate of $145.37 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 EPS. On average, equities research analysts anticipate that Lindsay Co. will post 5.66 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 15th. This represents a $1.44 annualized dividend and a yield of 1.16%. Lindsay’s payout ratio is 23.92%.

Lindsay Company 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.