Lindsay Co. (NYSE:LNN) Shares Bought by KBC Group NV

KBC Group NV increased its position in Lindsay Co. (NYSE:LNN) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,514 shares of the industrial products company’s stock after acquiring an additional 5,382 shares during the period. KBC Group NV owned approximately 3.21% of Lindsay worth $41,233,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LNN. Dimensional Fund Advisors LP grew its holdings in Lindsay by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock valued at $41,975,000 after purchasing an additional 21,474 shares during the last quarter. Sei Investments Co. grew its stake in Lindsay by 20.5% in the 2nd quarter. Sei Investments Co. now owns 9,728 shares of the industrial products company’s stock valued at $1,195,000 after acquiring an additional 1,657 shares during the last quarter. Bank of Montreal Can purchased a new position in Lindsay during the 2nd quarter valued at about $436,000. Marshall Wace LLP raised its position in Lindsay by 106.1% during the second quarter. Marshall Wace LLP now owns 6,775 shares of the industrial products company’s stock worth $833,000 after acquiring an additional 3,488 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Lindsay by 90.9% in the second quarter. Squarepoint Ops LLC now owns 28,388 shares of the industrial products company’s stock valued at $3,488,000 after purchasing an additional 13,519 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Price Performance

Lindsay stock opened at $138.69 on Tuesday. The firm’s 50-day moving average is $127.54 and its two-hundred day moving average is $123.44. 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 stock has a market capitalization of $1.51 billion, a P/E ratio of 22.26 and a beta of 0.66. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $140.26.

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

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 annualized dividend and a yield of 1.04%. Lindsay’s payout ratio is currently 23.11%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LNN. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus raised their price target on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research report 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.