UBS Asset Management Americas Inc. Grows Stake in Lindsay Co. (NYSE:LNN)

UBS Asset Management Americas Inc. lifted its stake in shares of Lindsay Co. (NYSE:LNN) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,525 shares of the industrial products company’s stock after purchasing an additional 855 shares during the quarter. UBS Asset Management Americas Inc. owned 0.06% of Lindsay worth $536,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its holdings in shares of Lindsay by 713.0% in the 2nd quarter. Morgan Stanley now owns 50,333 shares of the industrial products company’s stock worth $4,139,000 after purchasing an additional 44,142 shares in the last quarter. Bank of America Corp DE boosted its holdings in Lindsay by 183.2% during the 2nd quarter. Bank of America Corp DE now owns 27,181 shares of the industrial products company’s stock valued at $2,234,000 after acquiring an additional 17,583 shares during the period. Invesco Ltd. boosted its holdings in Lindsay by 11.0% during the 2nd quarter. Invesco Ltd. now owns 239,452 shares of the industrial products company’s stock valued at $19,686,000 after acquiring an additional 23,792 shares during the period. ETF Managers Group LLC purchased a new stake in Lindsay during the 2nd quarter valued at about $163,000. Finally, BlackRock Inc. boosted its holdings in Lindsay by 1.2% during the 2nd quarter. BlackRock Inc. now owns 1,619,247 shares of the industrial products company’s stock valued at $133,119,000 after acquiring an additional 19,747 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

LNN stock traded down $2.99 during trading on Friday, hitting $91.16. 74,458 shares of the company traded hands, compared to its average volume of 99,123. The company has a 50-day moving average of $91.32 and a 200-day moving average of $86.91. The firm has a market capitalization of $1.01 billion, a PE ratio of 62.87 and a beta of 0.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.69 and a current ratio of 3.82. Lindsay Co. has a 1 year low of $73.00 and a 1 year high of $106.44.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.19. The business had revenue of $101.90 million during the quarter, compared to analyst estimates of $105.53 million. Lindsay had a return on equity of 5.75% and a net margin of 0.49%. Lindsay’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. Sell-side analysts expect that Lindsay Co. will post 2.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Thursday, November 14th. Lindsay’s dividend payout ratio is currently 85.52%.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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