Lindsay Co. (NYSE:LNN) Stake Boosted by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Lindsay Co. (NYSE:LNN - Free Report) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,260,171 shares of the industrial products company's stock after buying an additional 10,649 shares during the period. Vanguard Group Inc. owned 11.59% of Lindsay worth $149,091,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Lindsay during the fourth quarter worth approximately $260,000. American Century Companies Inc. raised its stake in Lindsay by 5.4% during the 4th quarter. American Century Companies Inc. now owns 43,802 shares of the industrial products company's stock valued at $5,182,000 after acquiring an additional 2,229 shares in the last quarter. Virtu Financial LLC acquired a new position in Lindsay during the 4th quarter worth $353,000. Teacher Retirement System of Texas grew its stake in shares of Lindsay by 232.9% in the fourth quarter. Teacher Retirement System of Texas now owns 16,404 shares of the industrial products company's stock worth $1,941,000 after purchasing an additional 11,477 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Lindsay by 1.8% during the fourth quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company's stock valued at $534,000 after purchasing an additional 78 shares during the period. 89.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LNN shares. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday. Stifel Nicolaus increased their price objective on shares of Lindsay from $130.00 to $134.00 and gave the company a "hold" rating in a report on Friday, April 4th.

Remove Ads

Lindsay Price Performance

Shares of LNN stock traded up $3.81 during mid-day trading on Friday, hitting $127.30. 69,693 shares of the stock traded hands, compared to its average volume of 86,689. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The company's 50-day simple moving average is $129.27 and its 200-day simple moving average is $126.89. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 20.43 and a beta of 0.72.

Lindsay (NYSE:LNN - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm had revenue of $187.10 million for the quarter, compared to analysts' expectations of $174.50 million. During the same period in the previous year, the business earned $1.64 earnings per share. Lindsay's revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, equities research analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.13%. Lindsay's dividend payout ratio (DPR) is 20.48%.

Lindsay Profile

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.