Wellington Management Group LLP Purchases 7,952 Shares of Lindsay Co. (NYSE:LNN)

Wellington Management Group LLP lifted its position in Lindsay Co. (NYSE:LNN - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,122 shares of the industrial products company's stock after acquiring an additional 7,952 shares during the period. Wellington Management Group LLP owned 1.34% of Lindsay worth $17,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Lindsay by 8.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,026 shares of the industrial products company's stock valued at $626,000 after acquiring an additional 384 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Lindsay by 21.1% in the third quarter. Verition Fund Management LLC now owns 4,333 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 754 shares during the period. Quadrature Capital Ltd grew its position in shares of Lindsay by 6.8% during the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company's stock worth $392,000 after buying an additional 200 shares in the last quarter. Barclays PLC grew its holdings in Lindsay by 248.8% during the 3rd quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock worth $2,446,000 after acquiring an additional 13,986 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock valued at $33,000 after buying an additional 131 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

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Lindsay Stock Up 0.6 %

LNN stock traded up $0.82 during mid-day trading on Monday, hitting $127.60. 1,154 shares of the company were exchanged, compared to its average volume of 83,756. 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 market capitalization of $1.39 billion, a PE ratio of 20.48 and a beta of 0.72. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.26. The firm has a fifty day simple moving average of $129.27 and a 200 day simple moving average of $126.92.

Lindsay (NYSE:LNN - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS 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 company 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 firm earned $1.64 EPS. Lindsay's revenue was up 23.5% on a year-over-year basis. On average, research analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.36 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a yield of 1.13%. Lindsay's dividend payout ratio is currently 20.48%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LNN. StockNews.com upgraded Lindsay from a "hold" rating to a "buy" rating in a research note on Friday. Stifel Nicolaus raised their target price on shares of Lindsay from $130.00 to $134.00 and gave the company a "hold" rating in a report on Friday, April 4th.

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.