2,985 Shares in Lindsay Co. (NYSE:LNN) Bought by Virtu Financial LLC

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

Several other hedge funds also recently added to or reduced their stakes in LNN. Teacher Retirement System of Texas grew its stake in shares of Lindsay by 232.9% in the fourth quarter. Teacher Retirement System of Texas now owns 16,404 shares of the industrial products company’s stock valued at $1,941,000 after buying an additional 11,477 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Lindsay by 1.8% in the 4th quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company’s stock worth $534,000 after acquiring an additional 78 shares during the period. Gitterman Wealth Management LLC grew its position in Lindsay by 6.1% in the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 101 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Lindsay during the fourth quarter valued at approximately $32,000. Finally, Candriam S.C.A. lifted its position in shares of Lindsay by 31.9% during the fourth quarter. Candriam S.C.A. now owns 35,174 shares of the industrial products company’s stock worth $4,161,000 after purchasing an additional 8,499 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Up 0.6 %

Shares of NYSE:LNN opened at $130.72 on Thursday. The firm has a market cap of $1.42 billion, a PE ratio of 20.98 and a beta of 0.70. The company has a fifty day simple moving average of $132.13 and a 200 day simple moving average of $126.58. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $140.27.

Lindsay (NYSE:LNN) last released 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 net margin of 11.18% and a return on equity of 13.17%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. During the same quarter in the previous year, the firm earned $1.36 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio is presently 23.11%.

Analysts Set New Price Targets

LNN has been the topic of several analyst reports. Stifel Nicolaus lifted their price target 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. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th.

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.