Pacer Advisors Inc. Invests $24.29 Million in Lindsay Co. (NYSE:LNN)

Pacer Advisors Inc. bought a new position in Lindsay Co. (NYSE:LNN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 188,019 shares of the industrial products company’s stock, valued at approximately $24,285,000. Pacer Advisors Inc. owned approximately 1.70% of Lindsay at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LNN. Raymond James & Associates acquired a new stake in shares of Lindsay during the first quarter worth approximately $1,653,000. Bank of New York Mellon Corp lifted its stake in Lindsay by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 210,421 shares of the industrial products company’s stock valued at $33,038,000 after acquiring an additional 3,062 shares during the last quarter. Citigroup Inc. lifted its stake in Lindsay by 3.5% in the first quarter. Citigroup Inc. now owns 15,228 shares of the industrial products company’s stock valued at $2,391,000 after acquiring an additional 515 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Lindsay by 6.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,180 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 190 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Lindsay by 18.0% in the first quarter. Bank of Montreal Can now owns 3,460 shares of the industrial products company’s stock valued at $536,000 after acquiring an additional 527 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Price Performance

NYSE LNN opened at $115.51 on Tuesday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 18.45 and a beta of 0.61. Lindsay Co. has a 52-week low of $106.46 and a 52-week high of $152.23. The business has a 50 day simple moving average of $123.62 and a 200 day simple moving average of $123.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.37 and a current ratio of 3.53.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, January 4th. The industrial products company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.27 by $0.09. Lindsay had a return on equity of 15.53% and a net margin of 10.49%. The company had revenue of $161.40 million during the quarter, compared to the consensus estimate of $163.44 million. During the same quarter in the prior year, the firm posted $1.65 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts anticipate that Lindsay Co. will post 5.71 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Wednesday, February 14th. Lindsay’s payout ratio is 22.36%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LNN. Stifel Nicolaus reduced their price objective on shares of Lindsay from $129.00 to $123.00 and set a “hold” rating for the company in a research note on Tuesday, December 19th. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. Finally, StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.50.

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.