Virtu Financial LLC Makes New Investment in Lindsay Co. (NYSE:LNN)

Virtu Financial LLC acquired a new stake in Lindsay Co. (NYSE:LNN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,985 shares of the industrial products company’s stock, valued at approximately $353,000.

A number of other large investors have also made changes to their positions in the stock. Intech Investment Management LLC lifted its holdings in Lindsay by 109.4% in the 3rd quarter. Intech Investment Management LLC now owns 4,105 shares of the industrial products company’s stock valued at $512,000 after purchasing an additional 2,145 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lindsay by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after buying an additional 5,007 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Lindsay by 8.3% during the third quarter. BNP Paribas Financial Markets now owns 5,026 shares of the industrial products company’s stock valued at $626,000 after buying an additional 384 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lindsay by 29.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,134 shares of the industrial products company’s stock worth $3,881,000 after acquiring an additional 7,101 shares during the last quarter. Finally, Verition Fund Management LLC grew its stake in Lindsay by 21.1% in the 3rd quarter. Verition Fund Management LLC now owns 4,333 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 754 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Stock Performance

Shares of LNN stock opened at $130.72 on Thursday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 20.98 and a beta of 0.70. The company has a 50 day moving average price of $132.13 and a 200 day moving average price of $126.58. Lindsay Co. has a one year low of $109.27 and a one year high of $140.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

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

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio is currently 23.11%.

Analysts Set New Price Targets

LNN has been the topic of a number of recent analyst reports. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Stifel Nicolaus raised their price target on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th.

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.