3,358 Shares in Lindsay Co. (NYSE:LNN) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in Lindsay Co. (NYSE:LNN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,358 shares of the industrial products company’s stock, valued at approximately $434,000.

Several other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. purchased a new stake in Lindsay during the 4th quarter valued at about $24,285,000. American Century Companies Inc. grew its position in Lindsay by 3,922.9% during the 3rd quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock valued at $22,445,000 after purchasing an additional 185,985 shares during the last quarter. Robeco Schweiz AG purchased a new stake in Lindsay during the 3rd quarter valued at about $15,851,000. Nuance Investments LLC grew its position in Lindsay by 19.2% during the 3rd quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company’s stock valued at $41,267,000 after purchasing an additional 56,526 shares during the last quarter. Finally, Heartland Advisors Inc. purchased a new stake in Lindsay during the 3rd quarter valued at about $4,744,000. 89.94% of the stock is currently owned by institutional investors.

Lindsay Price Performance

Shares of NYSE:LNN opened at $117.34 on Friday. The firm’s 50 day moving average price is $117.32 and its 200-day moving average price is $122.91. Lindsay Co. has a twelve month low of $106.46 and a twelve month high of $137.31. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.30 billion, a PE ratio of 18.71 and a beta of 0.61.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The firm had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. During the same quarter in the prior year, the business earned $1.63 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis. Equities research analysts expect that Lindsay Co. will post 5.3 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, May 16th. Lindsay’s dividend payout ratio (DPR) is presently 22.33%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target on the stock in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lindsay currently 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.