Lindsay Co. (NYSE:LNN) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in Lindsay Co. (NYSE:LNN) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,122 shares of the industrial products company’s stock after purchasing an additional 7,952 shares during the quarter. Wellington Management Group LLP owned 1.34% of Lindsay worth $17,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LNN. AlphaQuest LLC purchased a new position in Lindsay in the fourth quarter valued at about $32,000. GAMMA Investing LLC grew its holdings 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 worth $33,000 after acquiring an additional 131 shares during the period. Global Retirement Partners LLC increased its stake in 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 in the last quarter. Van ECK Associates Corp raised its holdings in Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 623 shares during the last quarter. Finally, Gitterman Wealth Management LLC boosted its position in Lindsay by 6.1% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Stock Performance

NYSE LNN opened at $116.18 on Wednesday. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $140.27. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 18.65 and a beta of 0.72. The business has a fifty day moving average of $129.86 and a 200-day moving average of $126.85. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm had revenue of $187.10 million during the quarter, compared to the consensus estimate of $174.50 million. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, analysts predict that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a yield of 1.24%. Lindsay’s dividend payout ratio (DPR) is currently 20.48%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LNN shares. Stifel Nicolaus lifted their price target on Lindsay from $130.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 4th. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd.

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.