Teacher Retirement System of Texas Has $1.94 Million Stock Position in Lindsay Co. (NYSE:LNN)

Teacher Retirement System of Texas raised its position in Lindsay Co. (NYSE:LNN - Free Report) by 232.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,404 shares of the industrial products company's stock after buying an additional 11,477 shares during the quarter. Teacher Retirement System of Texas owned 0.15% of Lindsay worth $1,941,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LNN. Lightrock Netherlands B.V. bought a new stake in shares of Lindsay in the fourth quarter valued at approximately $11,396,000. SG Americas Securities LLC lifted its position in shares of Lindsay by 746.5% during the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock valued at $6,168,000 after acquiring an additional 45,979 shares during the period. Jennison Associates LLC acquired a new stake in shares of Lindsay during the 4th quarter worth $5,088,000. Wellington Management Group LLP increased its position in shares of Lindsay by 35.4% in the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company's stock worth $17,222,000 after purchasing an additional 36,128 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Lindsay by 46.3% in 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 purchasing an additional 23,710 shares in the last quarter. Institutional investors own 89.94% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LNN shares. Stifel Nicolaus raised their target price on shares of Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, January 8th. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th.

Lindsay Price Performance

Shares of LNN stock traded down $0.44 on Monday, reaching $126.27. The company had a trading volume of 85,504 shares, compared to its average volume of 85,853. The stock has a market capitalization of $1.37 billion, a PE ratio of 20.27 and a beta of 0.70. 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's 50-day moving average is $131.87 and its 200 day moving average is $126.92. Lindsay Co. has a one year low of $109.27 and a one year high of $140.27.

Lindsay (NYSE:LNN - Get Free Report) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.18. The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Equities research analysts forecast that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.36 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Lindsay's payout ratio is presently 23.11%.

Lindsay Company 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.