Lightrock Netherlands B.V. Invests $11.40 Million in Lindsay Co. (NYSE:LNN)

Lightrock Netherlands B.V. purchased a new position in Lindsay Co. (NYSE:LNN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 95,849 shares of the industrial products company's stock, valued at approximately $11,396,000. Lindsay makes up 4.0% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 6th biggest holding. Lightrock Netherlands B.V. owned 0.88% of Lindsay as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. KBC Group NV boosted its stake in Lindsay by 32.7% during the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company's stock valued at $42,768,000 after buying an additional 84,560 shares in the last quarter. SG Americas Securities LLC boosted its stake in Lindsay by 746.5% during the fourth quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock valued at $6,168,000 after buying an additional 45,979 shares in the last quarter. Jennison Associates LLC bought a new position in Lindsay during the fourth quarter valued at about $5,088,000. Wellington Management Group LLP boosted its stake in Lindsay by 35.4% during the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company's stock valued at $17,222,000 after buying an additional 36,128 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Lindsay by 46.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 74,950 shares of the industrial products company's stock valued at $9,342,000 after buying an additional 23,710 shares in the last quarter. Institutional investors own 89.94% of the company's stock.

Analysts Set New Price Targets

LNN has been the subject of several research reports. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Stifel Nicolaus upped their target price on Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, January 8th.

Lindsay Trading Up 1.8 %

Shares of NYSE LNN traded up $2.30 during mid-day trading on Friday, hitting $132.75. 63,248 shares of the company traded hands, compared to its average volume of 77,502. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.26. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 21.31 and a beta of 0.67. 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 business has a 50 day moving average of $128.07 and a two-hundred day moving average of $124.47.

Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 EPS. On average, sell-side analysts anticipate that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Friday, February 14th. Lindsay's dividend payout ratio is currently 23.11%.

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.