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Royce & Associates LP Reduces Its Holdings in Lindsay Co. (NYSE:LNN)

Royce & Associates LP Reduces Its Holdings in Lindsay Co. (NYSE:LNN)

According to the most recent Form 13F report that Royce & Associates LP has filed with the Securities and Exchange Commission, the company’s holdings in Lindsay Co. (NYSE: LNN) have been reduced by 6.5% during the third quarter. The investment fund ended the period with a total holding 460,858 shares in the industrial goods company. This was after selling 32,014 shares during the period. Lindsay is Royce & Associates LP’s 14th largest holding, accounting for 0.7% of its total positions. Royce & Associates LP ranks Lindsay as its largest holding. According to the most recent filing that Royce & Associates LP had made with the Securities and Exchange Commission, which was made public, the company held 4.20% of Lindsay for a total value of $66,032,000. This information is now available to the general public.

Several other institutional investors have, in recent times, made modifications to their LNN holdings. Through the course of the second quarter, Millennium Management LLC was able to achieve a 461.5% increase in the proportion of Lindsay stock that it owned. Millennium Management LLC increased its holdings in the industrial products company’s stock by purchasing an additional 123,619 shares during the most recent quarter. As a result, the firm now owns 150,404 shares of the company’s stock, which carries a value of $19,977,000. The value of BlackRock Inc.’s holdings in Lindsay increased by 5.9% during the first three months of 2018. BlackRock Inc. has increased the total value of the shares it owns in the industrial goods company by purchasing an additional 1,886,075 of those company’s shares since the end of the preceding quarter. This brings the total value of the company’s stock holdings to $296,133. Amundi invested 24.0% more money in Lindsay during the second quarter due to the company’s strong performance. Amundi now has a total of 273,406 shares of the industrial products company’s stock, which are worth a combined total of $36,070,000 after the purchase of an additional 52,936 shares during the most recent quarter. In the second quarter, Renaissance Technologies LLC saw a 1,279,1% increase in its holdings in Lindsay. Following the acquisition of an additional 49,800 shares during the preceding quarter, Renaissance Technologies LLC now owns a total of 53,700 shares of the stock of the industrial goods company. The value of these holdings is $7,132,00. As a result, the total number of shares that the company possesses now amounts to 53,700. And as a final point of interest, State Street Corporation completed an increase of 11.2% in the proportion of Lindsay stock it owned during the second quarter. State Street Corp. now has 416,378 shares in the industrial products company after purchasing an additional 41,870 shares during the preceding quarter, bringing its total number of shares to 416,378. The value of these shares as of right now is $55,303,000 in total. Institutional investors and hedge funds collectively own 84.79% of the total shares outstanding in the company.

Various research firms from around the world have recently provided their perspectives on LNN. A research report on Lindsay’s stock released by on November 11th and November 11th indicated that the company’s share price had been upgraded from a “hold” rating to a “buy” recommendation by the analyst who authored the study report. Stifel Nicolaus gave the stock a “buy” rating and reduced the price objective it had previously established for Lindsay from $176.00 to $173.00 in a research report released on Tuesday, October 11th, October 11th. Stifel Nicolaus’s report was published on the same day.

LNN stock was first offered for trading on Thursday for $151.82 per share. Over the previous 52 weeks, the price of Lindsay Company has fluctuated between a low of $116.77 and a high of $183.08. The ratio of the current ratio to the quick ratio is 1.97, while the ratio of the current ratio to the quick ratio is 3.24. The ratio of debt to equity is 0.28. The price of the stock’s simple moving average over the past 50 days is $166.85, and the price of the stock’s simple moving average over the past 200 days is $158.13, respectively. The stock has a price-to-earnings ratio of 22.10 and a beta value of 0.63. The beta value measures how sensitive the stock is to price changes. The value of the company’s stock on the market is approximately $1.67 billion.

Lindsay’s most recent quarterly earnings report (NYSE: LNN) was released on January 5th and January 5th. The industrial goods manufacturer reported $1.65 per share for the quarter, which is $0.47 more than the consensus estimate of $1.18 per share for the period. The total revenue the company generated during the period came in at $176.20 million, which was lower than the $178.10 million market analysts had anticipated the company would generate. The return on equity that Lindsay’s business saw was 19.74%, and the net margin that it earned was 9.71%. During the previous quarter, Lindsay saw a revenue increase that was 6.0% higher than the previous quarter. The business earned a profit of $0.72 per share during the same period the year before. The Lindsay Company is expected to generate earnings of $6.97 per share during the current fiscal year, according to predictions made by industry experts.

In addition, the corporation has recently announced a quarterly dividend, which is planned to be distributed on February 28th and February 28th. Shareholders of record will be eligible to receive a dividend payment of February 14th and February 14th of $0.34 per share. The payment will be made. February 13th, February 13th, a Monday, is the date that will determine whether or not a dividend will be withheld from an investor’s payment. This results in an annual dividend payment of $1.36 and a yield of 0.90 percent for the investment over its lifetime. At the moment, Lindsay possesses a dividend payout ratio (DPR) of 19.80 percent.

The Lindsay Corporation is a producer and distributor of the machinery and technologies utilized to construct various types of infrastructure, including irrigation systems. Within the realm of commercial activity, it is active in the irrigation and infrastructure markets. The irrigation business segment not only offers a vast selection of cutting-edge technological options like GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications, but it also designs, manufactures, and sells hose reels, center pivot, and lateral move irrigation systems.


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