Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Lindsay Co. (NYSE:LNN) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,897 shares of the industrial products company’s stock after selling 4,375 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lindsay were worth $873,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Flinton Capital Management LLC grew its position in shares of Lindsay by 72.7% during the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock worth $115,000 after buying an additional 544 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Lindsay during the second quarter worth about $205,000. Crossmark Global Holdings Inc. acquired a new position in shares of Lindsay during the third quarter worth about $224,000. OxFORD Asset Management LLP acquired a new position in shares of Lindsay during the second quarter worth about $219,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Lindsay during the third quarter worth about $246,000. 93.44% of the stock is owned by institutional investors and hedge funds.
Shares of Lindsay Co. (LNN) opened at $92.39 on Thursday. The firm has a market capitalization of $981.97, a P/E ratio of 38.82, a P/E/G ratio of 1.98 and a beta of 0.36. Lindsay Co. has a 52 week low of $75.82 and a 52 week high of $96.22. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.30%. The ex-dividend date is Tuesday, February 13th. Lindsay’s payout ratio is 50.42%.
In other Lindsay news, Director Michael Nahl sold 7,200 shares of the business’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 value of $622,296.00. Following the completion of the sale, the director now owns 3,687 shares in the company, valued at $318,667.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bill Welsh sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $90.00, for a total value of $198,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,281 shares of company stock valued at $5,033,499. 1.20% of the stock is owned by company insiders.
LNN has been the subject of several recent analyst reports. Zacks Investment Research cut Lindsay from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. TheStreet cut Lindsay from a “b-” rating to a “c” rating in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $91.00 target price on shares of Lindsay in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $95.25.
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Lindsay Company 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.
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