Van ECK Associates Corp Has $175,000 Holdings in Lindsay Co. (NYSE:LNN)

Van ECK Associates Corp raised its stake in Lindsay Co. (NYSE:LNN) by 73.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,475 shares of the industrial products company’s stock after acquiring an additional 623 shares during the quarter. Van ECK Associates Corp’s holdings in Lindsay were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LNN. CWM LLC boosted its stake in shares of Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 92 shares during the last quarter. US Bancorp DE boosted its stake in shares of Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Lindsay in the 3rd quarter valued at about $754,000. KBC Group NV boosted its stake in shares of Lindsay by 32.7% in the 3rd quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock valued at $42,768,000 after purchasing an additional 84,560 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Lindsay by 1.6% in the 3rd quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock valued at $50,442,000 after purchasing an additional 6,253 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Stock Down 1.2 %

Lindsay stock opened at $135.52 on Monday. The company’s 50 day simple moving average is $128.64 and its 200 day simple moving average is $125.06. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $140.26. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 21.75 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. During the same quarter last year, the firm earned $1.36 EPS. Lindsay’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, February 14th. Lindsay’s payout ratio is currently 23.11%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 research note on Wednesday, January 8th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Monday, February 17th.

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.