Vanguard Group Inc. Has $165.30 Million Position in Lindsay Co. (NYSE:LNN)

Vanguard Group Inc. grew its stake in shares of Lindsay Co. (NYSE:LNN) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,279,819 shares of the industrial products company’s stock after buying an additional 17,261 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Lindsay worth $165,301,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LNN. McGlone Suttner Wealth Management Inc. acquired a new position in Lindsay in the 4th quarter valued at approximately $28,000. Quest Partners LLC acquired a new stake in Lindsay in the fourth quarter valued at $51,000. CWM LLC raised its position in Lindsay by 129.6% during the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 276 shares during the last quarter. Windmill Hill Asset Management Ltd acquired a new position in Lindsay during the 4th quarter worth about $208,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Lindsay in the 3rd quarter valued at about $215,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Trading Down 0.8 %

NYSE LNN opened at $114.28 on Thursday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 17.34 and a beta of 0.62. The business has a 50 day simple moving average of $116.38 and a 200 day simple moving average of $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. Lindsay Co. has a one year low of $106.46 and a one year 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 company had revenue of $139.20 million during 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%. Lindsay’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. Research analysts expect that Lindsay Co. will post 5.32 earnings per share for the current year.

Lindsay Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on LNN. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective on the stock in a research note on Friday, April 5th. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Lindsay has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

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.