Lindsay Co. (NYSE:LNN) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Lindsay Co. (NYSE:LNN) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,260,171 shares of the industrial products company’s stock after acquiring an additional 10,649 shares during the period. Vanguard Group Inc. owned about 0.12% of Lindsay worth $149,091,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. AlphaQuest LLC purchased a new position in Lindsay in the 4th quarter valued at approximately $32,000. GAMMA Investing LLC increased its position in shares of Lindsay by 90.3% in the fourth 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. Global Retirement Partners LLC raised its stake 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 worth $109,000 after buying an additional 86 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after buying an additional 623 shares in the last quarter. Finally, Gitterman Wealth Management LLC grew its stake in Lindsay by 6.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LNN. StockNews.com cut shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Stifel Nicolaus upped their target price on Lindsay from $130.00 to $134.00 and gave the company a “hold” rating in a research note on Friday.

Lindsay Stock Down 0.1 %

LNN opened at $119.72 on Tuesday. The firm has a market cap of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72. The business’s fifty day simple moving average is $130.66 and its 200 day simple moving average is $126.97. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $140.27. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

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

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid 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 1.20%. Lindsay’s payout ratio is currently 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.