Lindsay Co. (NYSE:LNN) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lindsay Co. (NYSE:LNN) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,528 shares of the industrial products company’s stock after acquiring an additional 196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lindsay were worth $327,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LNN. Cardinal Capital Management boosted its position in shares of Lindsay by 1.9% in the 4th quarter. Cardinal Capital Management now owns 10,109 shares of the industrial products company’s stock valued at $1,306,000 after purchasing an additional 188 shares during the period. Swiss National Bank boosted its holdings in shares of Lindsay by 0.8% in the third quarter. Swiss National Bank now owns 24,200 shares of the industrial products company’s stock worth $2,848,000 after buying an additional 200 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lindsay in the fourth quarter worth approximately $28,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Lindsay by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,160 shares of the industrial products company’s stock valued at $2,475,000 after acquiring an additional 240 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in shares of Lindsay by 2.4% in the third quarter. HighTower Advisors LLC now owns 10,816 shares of the industrial products company’s stock valued at $1,269,000 after purchasing an additional 249 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

Lindsay Price Performance

NYSE LNN opened at $118.29 on Friday. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.31 billion, a PE ratio of 18.87 and a beta of 0.63. Lindsay Co. has a 12-month low of $106.46 and a 12-month high of $137.31. The company has a 50 day moving average price of $116.75 and a two-hundred day moving average price of $123.03.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.12. The business had revenue of $151.50 million during the quarter, compared to analyst estimates of $172.06 million. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. Lindsay’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. As a group, equities analysts predict that Lindsay Co. will post 5.3 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s dividend payout ratio is 22.33%.

Analyst Upgrades and Downgrades

LNN has been the topic of several recent analyst reports. TheStreet lowered Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target on the stock in a report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

About Lindsay

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.