Swiss National Bank grew its stake in shares of Lindsay Co. (NYSE:LNN – Get Rating) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,900 shares of the industrial products company’s stock after purchasing an additional 1,800 shares during the quarter. Swiss National Bank’s holdings in Lindsay were worth $4,067,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Manchester Capital Management LLC grew its holdings in shares of Lindsay by 43.2% during the first quarter. Manchester Capital Management LLC now owns 5,225 shares of the industrial products company’s stock valued at $820,000 after purchasing an additional 1,575 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Lindsay by 6.9% during the first quarter. Teacher Retirement System of Texas now owns 2,265 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 146 shares during the last quarter. Windmill Hill Asset Management Ltd bought a new position in shares of Lindsay during the first quarter valued at approximately $266,000. Autumn Glory Partners LLC bought a new position in shares of Lindsay during the first quarter valued at approximately $280,000. Finally, Victory Capital Management Inc. boosted its position in shares of Lindsay by 39.7% during the first quarter. Victory Capital Management Inc. now owns 5,142 shares of the industrial products company’s stock worth $695,000 after buying an additional 1,460 shares during the period. 85.44% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently issued reports on LNN. Stifel Nicolaus reduced their price objective on Lindsay from $180.00 to $172.00 in a research report on Wednesday, June 15th. Northcoast Research downgraded Lindsay from a “buy” rating to a “neutral” rating in a research report on Monday, August 15th. Finally, Roth Capital boosted their price objective on Lindsay from $135.00 to $160.00 in a research report on Monday, August 1st.
Lindsay Stock Performance
LNN opened at $162.81 on Friday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 33.57 and a beta of 0.53. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.74 and a quick ratio of 1.61. Lindsay Co. has a 1-year low of $116.77 and a 1-year high of $171.69. The business has a 50 day moving average price of $145.15 and a two-hundred day moving average price of $139.67.
Lindsay (NYSE:LNN – Get Rating) last released its earnings results on Thursday, June 30th. The industrial products company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.71. The firm had revenue of $214.30 million during the quarter, compared to the consensus estimate of $188.95 million. Lindsay had a return on equity of 17.59% and a net margin of 7.27%. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. Research analysts predict that Lindsay Co. will post 6.36 EPS for the current fiscal year.
Lindsay Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.84%. This is an increase from Lindsay’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 16th. Lindsay’s dividend payout ratio is 28.04%.
Lindsay Company Profile
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Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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 and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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