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

Vanguard Group Inc. increased its position in shares of Lindsay Co. (NYSE:LNN) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,279,819 shares of the industrial products company’s stock after purchasing an additional 17,261 shares during the period. Vanguard Group Inc. owned 11.60% of Lindsay worth $165,301,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LNN. Cardinal Capital Management boosted its holdings in Lindsay by 1.9% during the fourth quarter. Cardinal Capital Management now owns 10,109 shares of the industrial products company’s stock worth $1,306,000 after buying an additional 188 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Lindsay by 8.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,528 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 196 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Lindsay during the fourth quarter worth $28,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Lindsay by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,160 shares of the industrial products company’s stock valued at $2,475,000 after purchasing an additional 240 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Lindsay by 129.6% in the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 276 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on LNN shares. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a research report on Friday, April 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.33.

Lindsay Price Performance

Shares of LNN opened at $114.28 on Thursday. The business’s 50-day moving average is $116.38 and its 200-day moving average is $121.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.95 and a quick ratio of 2.56. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 17.34 and a beta of 0.62. Lindsay Co. has a fifty-two week low of $106.46 and a fifty-two week high of $137.31.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.68. The firm had revenue of $139.20 million for the quarter, compared to analyst estimates of $144.38 million. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS. Equities research analysts expect that Lindsay Co. will post 5.32 EPS for the current fiscal year.

Lindsay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Lindsay’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.26%. Lindsay’s dividend payout ratio (DPR) is 21.24%.

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.