Principal Financial Group Inc. Has $6.91 Million Holdings in Lindsay Co. (NYSE:LNN)

Principal Financial Group Inc. lifted its holdings in Lindsay Co. (NYSE:LNN) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,725 shares of the industrial products company’s stock after acquiring an additional 230 shares during the quarter. Principal Financial Group Inc. owned approximately 0.53% of Lindsay worth $6,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Lindsay by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company’s stock worth $165,301,000 after acquiring an additional 17,261 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lindsay by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company’s stock worth $40,310,000 after acquiring an additional 14,738 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Lindsay by 3,922.9% in the 3rd quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock worth $22,445,000 after acquiring an additional 185,985 shares in the last quarter. Pacer Advisors Inc. bought a new position in Lindsay in the 4th quarter worth approximately $24,285,000. Finally, Robeco Schweiz AG raised its position in Lindsay by 2.4% in the 4th quarter. Robeco Schweiz AG now owns 137,884 shares of the industrial products company’s stock worth $17,809,000 after purchasing an additional 3,187 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Trading Down 1.1 %

Shares of Lindsay stock traded down $1.28 on Friday, hitting $113.00. 23,419 shares of the company’s stock traded hands, compared to its average volume of 103,052. The firm’s 50-day moving average price is $116.32 and its two-hundred day moving average price is $120.95. The stock has a market capitalization of $1.23 billion, a PE ratio of 17.34 and a beta of 0.62. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31. 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 (NYSE:LNN) last issued its earnings results on Thursday, June 27th. The industrial products company reported $1.85 EPS 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 analysts’ expectations of $144.38 million. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. The business’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 company posted $1.53 EPS. On average, research analysts expect that Lindsay Co. will post 5.32 EPS for the current fiscal year.

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Lindsay’s previous quarterly dividend of $0.35. Lindsay’s dividend payout ratio is currently 21.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LNN shares. Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Friday, April 5th. StockNews.com cut 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

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.