JPMorgan Chase & Co. Acquires 31,351 Shares of Lindsay Co. (NYSE:LNN)

JPMorgan Chase & Co. grew its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 304.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,640 shares of the industrial products company's stock after purchasing an additional 31,351 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Lindsay worth $4,926,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LNN. AlphaQuest LLC acquired a new stake in Lindsay during the 4th quarter valued at $32,000. GAMMA Investing LLC lifted its position in Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after buying an additional 131 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Lindsay by 10.3% during the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock valued at $109,000 after acquiring an additional 86 shares in the last quarter. Van ECK Associates Corp boosted its position in Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 623 shares during the last quarter. Finally, Gitterman Wealth Management LLC increased its holdings in Lindsay by 6.1% in the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock worth $207,000 after buying an additional 101 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on LNN shares. StockNews.com upgraded Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus decreased their price objective on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a report on Wednesday, April 16th.

Lindsay Trading Up 1.4 %

Shares of LNN stock traded up $1.73 on Thursday, hitting $127.46. The stock had a trading volume of 24,520 shares, compared to its average volume of 86,025. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.27. The firm has a market cap of $1.38 billion, a P/E ratio of 20.44 and a beta of 0.72. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $128.34 and a two-hundred day moving average price of $126.97.

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 for the quarter, topping analysts' consensus estimates of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same period in the previous year, the company earned $1.64 earnings per share. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. As a group, analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, May 16th. Lindsay's dividend payout ratio is presently 20.48%.

About Lindsay

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.