Nuance Investments LLC Has $20.21 Million Stake in Lindsay Co. (NYSE:LNN)

Nuance Investments LLC lowered its stake in Lindsay Co. (NYSE:LNN) by 26.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,845 shares of the industrial products company’s stock after selling 59,934 shares during the period. Nuance Investments LLC owned approximately 1.57% of Lindsay worth $20,213,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Lindsay by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company’s stock valued at $149,091,000 after purchasing an additional 10,649 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Lindsay in the 4th quarter worth $260,000. American Century Companies Inc. boosted its holdings in Lindsay by 5.4% during the fourth quarter. American Century Companies Inc. now owns 43,802 shares of the industrial products company’s stock valued at $5,182,000 after acquiring an additional 2,229 shares during the period. Virtu Financial LLC bought a new position in shares of Lindsay in the fourth quarter worth about $353,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Lindsay by 232.9% during the 4th quarter. Teacher Retirement System of Texas now owns 16,404 shares of the industrial products company’s stock worth $1,941,000 after purchasing an additional 11,477 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LNN. Stifel Nicolaus upped their price objective on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th.

Lindsay Price Performance

Shares of Lindsay stock opened at $129.83 on Wednesday. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The firm has a market cap of $1.41 billion, a P/E ratio of 20.84 and a beta of 0.70. The firm’s 50-day simple moving average is $132.13 and its 200-day simple moving average is $126.55.

Lindsay (NYSE:LNN) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. Lindsay’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 EPS. As a group, research analysts expect that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.11%. Lindsay’s dividend payout ratio is presently 23.11%.

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.