Voya Investment Management LLC Cuts Stake in Lindsay Co. (NYSE:LNN)

Voya Investment Management LLC lessened its stake in shares of Lindsay Co. (NYSE:LNN) by 6.5% in the 4th quarter, Holdings Channel reports. The firm owned 3,353 shares of the industrial products company’s stock after selling 232 shares during the period. Voya Investment Management LLC’s holdings in Lindsay were worth $397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Lindsay by 0.9% in 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 acquiring an additional 10,649 shares in the last quarter. KBC Group NV raised its stake in Lindsay by 1.6% in the 4th quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock valued at $41,233,000 after purchasing an additional 5,382 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Lindsay by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 345,943 shares of the industrial products company’s stock worth $40,929,000 after purchasing an additional 2,207 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Lindsay by 37.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company’s stock worth $39,164,000 after purchasing an additional 89,373 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Lindsay by 3.7% during the fourth quarter. First Trust Advisors LP now owns 207,403 shares of the industrial products company’s stock worth $24,538,000 after buying an additional 7,362 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Up 0.7 %

Shares of LNN opened at $134.28 on Friday. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $140.27. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $127.84 and a two-hundred day simple moving average of $128.08. The company has a market capitalization of $1.46 billion, a PE ratio of 21.55 and a beta of 0.81.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.55. The firm had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. Lindsay’s revenue was up 23.5% compared to the same quarter last year. During the same period last year, the business earned $1.64 earnings per share. As a group, equities analysts forecast that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.36 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.07%. Lindsay’s payout ratio is 20.48%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LNN shares. Stifel Nicolaus dropped their price objective on shares of Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a report on Friday, April 11th.

Lindsay 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.