Stephens Investment Management Group LLC Boosts Position in Lindsay Co. (NYSE:LNN)

Stephens Investment Management Group LLC boosted its holdings in Lindsay Co. (NYSE:LNN) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,344 shares of the industrial products company’s stock after purchasing an additional 1,509 shares during the quarter. Stephens Investment Management Group LLC owned about 0.82% of Lindsay worth $10,570,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in shares of Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. GAMMA Investing LLC increased its position in Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after buying an additional 131 shares during the period. CWM LLC lifted its stake in Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after buying an additional 92 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Lindsay by 6.8% in the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 200 shares during the period. Finally, Inspire Investing LLC grew its position in shares of Lindsay by 18.4% during the third quarter. Inspire Investing LLC now owns 3,374 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 525 shares during the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Price Performance

Lindsay stock opened at $130.11 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The business has a 50 day simple moving average of $128.03 and a 200-day simple moving average of $124.25. Lindsay Co. has a 12 month low of $109.27 and a 12 month high of $140.26. The stock has a market capitalization of $1.41 billion, a PE ratio of 20.88 and a beta of 0.67.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. Lindsay’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. Equities analysts predict that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, February 14th. Lindsay’s dividend payout ratio is presently 23.11%.

Wall Street Analyst Weigh In

Several analysts recently commented on LNN shares. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus increased their target price 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.

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.