AlphaQuest LLC Acquires New Position in Lindsay Co. (NYSE:LNN)

AlphaQuest LLC acquired a new stake in shares of Lindsay Co. (NYSE:LNN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 269 shares of the industrial products company’s stock, valued at approximately $32,000.

Several other large investors also recently bought and sold shares of LNN. Atom Investors LP acquired a new position in Lindsay in the 3rd quarter valued at about $731,000. Barclays PLC boosted its holdings in Lindsay by 248.8% in the 3rd quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after purchasing an additional 13,986 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lindsay by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after purchasing an additional 5,007 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Lindsay in the 4th quarter valued at about $679,000. Finally, KBC Group NV boosted its holdings in Lindsay by 1.6% in the 4th quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock valued at $41,233,000 after purchasing an additional 5,382 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LNN. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Lindsay Stock Performance

Shares of LNN stock opened at $126.40 on Friday. Lindsay Co. has a one year low of $109.27 and a one year high of $140.27. The firm’s 50 day moving average price is $132.05 and its 200-day moving average price is $126.26. The firm has a market cap of $1.37 billion, a P/E ratio of 20.29 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

Lindsay (NYSE:LNN) last announced its earnings results 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 firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, February 14th. 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.