American Century Companies Inc. Raises Stock Position in Lindsay Co. (NYSE:LNN)

American Century Companies Inc. raised its holdings in Lindsay Co. (NYSE:LNN) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,802 shares of the industrial products company’s stock after purchasing an additional 2,229 shares during the quarter. American Century Companies Inc. owned 0.40% of Lindsay worth $5,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in Lindsay by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock worth $16,571,000 after acquiring an additional 5,007 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Lindsay by 8.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,026 shares of the industrial products company’s stock worth $626,000 after purchasing an additional 384 shares during the period. Verition Fund Management LLC grew its stake in shares of Lindsay by 21.1% during the 3rd quarter. Verition Fund Management LLC now owns 4,333 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 754 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Lindsay by 6.8% during the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 200 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Lindsay by 35.4% in the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after purchasing an additional 36,128 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Trading Down 7.4 %

Shares of LNN stock opened at $119.75 on Friday. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.27. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 19.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The stock has a 50 day simple moving average of $131.04 and a 200-day simple moving average of $126.98.

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

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.20%. Lindsay’s dividend payout ratio (DPR) is presently 23.11%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Lindsay from $130.00 to $134.00 and gave the company a “hold” rating in a research report on Friday. StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday.

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.