Texas Permanent School Fund Buys 156 Shares of Lindsay Co. (NYSE:LNN)

Texas Permanent School Fund raised its stake in Lindsay Co. (NYSE:LNNGet Rating) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,935 shares of the industrial products company’s stock after acquiring an additional 156 shares during the quarter. Texas Permanent School Fund’s holdings in Lindsay were worth $1,054,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LNN. Baldwin Brothers LLC MA bought a new position in Lindsay in the 2nd quarter valued at about $66,000. Captrust Financial Advisors grew its position in shares of Lindsay by 21.3% during the 1st quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company’s stock worth $178,000 after purchasing an additional 199 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Lindsay during the 1st quarter worth approximately $209,000. Banque Cantonale Vaudoise grew its position in shares of Lindsay by 117.4% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,633 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 882 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Lindsay during the 1st quarter worth approximately $225,000. 85.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Stifel Nicolaus reduced their price target on shares of Lindsay from $176.00 to $173.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Roth Capital increased their price target on shares of Lindsay from $135.00 to $160.00 in a research report on Monday, August 1st. Finally, Northcoast Research lowered shares of Lindsay from a “buy” rating to a “neutral” rating in a research report on Monday, August 15th.

Lindsay Stock Performance

Shares of Lindsay stock opened at $174.76 on Friday. Lindsay Co. has a fifty-two week low of $116.77 and a fifty-two week high of $178.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.76. The firm has a market capitalization of $1.92 billion, a P/E ratio of 29.42 and a beta of 0.61. The company’s 50 day moving average price is $156.93 and its two-hundred day moving average price is $146.05.

Lindsay (NYSE:LNNGet Rating) last issued its earnings results on Thursday, October 20th. The industrial products company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.19. Lindsay had a net margin of 8.49% and a return on equity of 19.00%. The firm had revenue of $190.20 million for the quarter, compared to analyst estimates of $179.04 million. During the same quarter last year, the business posted $0.94 earnings per share. The company’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts forecast that Lindsay Co. will post 6.93 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, November 15th. Lindsay’s payout ratio is currently 22.90%.

Lindsay Profile

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Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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.

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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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