Dynamic Technology Lab Private Ltd increased its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 260.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,420 shares of the industrial products company's stock after buying an additional 6,086 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.08% of Lindsay worth $996,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Lindsay by 0.9% in the 4th 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. KBC Group NV grew its position 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 buying an additional 5,382 shares during the last quarter. Wellington Management Group LLP increased its stake in Lindsay by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 146,122 shares of the industrial products company's stock valued at $17,288,000 after buying an additional 7,952 shares during the period. Charles Schwab Investment Management Inc. raised its position in Lindsay by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,092 shares of the industrial products company's stock worth $16,338,000 after buying an additional 5,140 shares during the last quarter. Finally, Lightrock Netherlands B.V. acquired a new stake in shares of Lindsay in the 4th quarter worth $11,396,000. Institutional investors and hedge funds own 89.94% of the company's stock.
Lindsay Price Performance
Shares of NYSE LNN traded up $1.85 during trading on Friday, hitting $125.34. 18,401 shares of the company were exchanged, compared to its average volume of 86,401. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.27. The firm's fifty day moving average price is $129.34 and its 200 day moving average price is $126.86. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 20.08 and a beta of 0.72.
Lindsay (NYSE:LNN - Get Free Report) last issued its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.55. The company 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%. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the company posted $1.64 earnings per share. On average, sell-side analysts expect that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.
Lindsay Dividend Announcement
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 dividend yield of 1.15%. Lindsay's dividend payout ratio is presently 20.48%.
Wall Street Analysts Forecast Growth
LNN has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Lindsay from $130.00 to $134.00 and gave the stock a "hold" rating in a report on Friday, April 4th. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a research note on Friday.
View Our Latest Stock Report on LNN
About Lindsay
(
Free Report)
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.
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