Robecosam AG Cuts Stake in Lindsay Co. (LNN)

Robecosam AG cut its position in Lindsay Co. (NYSE:LNN) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,620 shares of the industrial products company’s stock after selling 660 shares during the period. Robecosam AG’s holdings in Lindsay were worth $1,027,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in LNN. State Street Corp increased its holdings in shares of Lindsay by 3.8% in the second quarter. State Street Corp now owns 269,948 shares of the industrial products company’s stock valued at $24,094,000 after purchasing an additional 9,763 shares during the period. First Trust Advisors LP increased its holdings in shares of Lindsay by 1.6% in the third quarter. First Trust Advisors LP now owns 59,771 shares of the industrial products company’s stock valued at $5,493,000 after purchasing an additional 959 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Lindsay in the third quarter valued at about $224,000. Victory Capital Management Inc. purchased a new stake in shares of Lindsay in the third quarter worth about $261,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Lindsay by 41.7% in the third quarter. BNP Paribas Arbitrage SA now owns 6,434 shares of the industrial products company’s stock worth $591,000 after buying an additional 1,895 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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A number of analysts have recently commented on the company. TheStreet downgraded Lindsay from a “b-” rating to a “c” rating in a research note on Tuesday, January 9th. Stifel Nicolaus restated a “hold” rating and issued a $91.00 target price on shares of Lindsay in a research note on Thursday, December 14th. Finally, Zacks Investment Research downgraded Lindsay from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $95.25.

Shares of Lindsay Co. (LNN) opened at $92.66 on Wednesday. Lindsay Co. has a one year low of $79.03 and a one year high of $96.22. The company has a quick ratio of 2.24, a current ratio of 3.29 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $994.73, a PE ratio of 38.98, a PEG ratio of 2.00 and a beta of 0.36.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, December 21st. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The company had revenue of $124.53 million during the quarter, compared to analysts’ expectations of $117.11 million. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. research analysts expect that Lindsay Co. will post 3.09 EPS for the current fiscal year.

In other Lindsay news, Director Michael Nahl sold 7,200 shares of the 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 transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bill Welsh sold 2,200 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was 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. Insiders sold 58,281 shares of company stock worth $5,033,499 in the last 90 days. Company insiders own 1.20% of the company’s stock.

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About Lindsay

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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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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