Lindsay Co. (NYSE:LNN) Shares Purchased by KBC Group NV

KBC Group NV raised its stake in Lindsay Co. (NYSE:LNN) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 348,514 shares of the industrial products company’s stock after purchasing an additional 5,382 shares during the quarter. KBC Group NV’s holdings in Lindsay were worth $41,233,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Atom Investors LP acquired a new position in Lindsay in the third quarter valued at $731,000. Barclays PLC lifted its stake in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lindsay by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock worth $16,571,000 after purchasing an additional 5,007 shares during the period. GSA Capital Partners LLP acquired a new stake in Lindsay during the 3rd quarter worth approximately $754,000. Finally, GAMMA Investing LLC raised its holdings in 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 during the period. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Up 0.2 %

NYSE LNN opened at $138.69 on Tuesday. 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 Co. has a fifty-two week low of $109.27 and a fifty-two week high of $140.26. The business has a 50 day moving average price of $127.54 and a two-hundred day moving average price of $123.44. The stock has a market cap of $1.51 billion, a PE ratio of 22.26 and a beta of 0.66.

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, beating 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 during the quarter, compared to the consensus estimate of $169.78 million. During the same period in the prior year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. Lindsay’s dividend payout ratio is presently 23.11%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LNN. Stifel Nicolaus boosted their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

About Lindsay

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.