AlphaQuest LLC Acquires Shares of 269 Lindsay Co. (NYSE:LNN)

AlphaQuest LLC acquired a new stake in Lindsay Co. (NYSE:LNN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 269 shares of the industrial products company’s stock, valued at approximately $32,000.

A number of other large investors also recently modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 86 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after buying an additional 131 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of Lindsay by 6.8% in the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after buying an additional 200 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Lindsay by 8.3% in the 3rd 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 last quarter. Finally, Cardinal Capital Management grew its position in shares of Lindsay by 3.0% in the 4th quarter. Cardinal Capital Management now owns 16,159 shares of the industrial products company’s stock valued at $1,912,000 after buying an additional 476 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Lindsay Stock Down 1.2 %

Shares of NYSE:LNN opened at $126.40 on Friday. The stock has a market cap of $1.37 billion, a P/E ratio of 20.29 and a beta of 0.70. The firm has a fifty day moving average price of $132.05 and a 200 day moving average price of $126.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.27.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The firm had revenue of $166.30 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. Sell-side analysts predict that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio is currently 23.11%.

Lindsay Company 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.