Allianz Asset Management GmbH boosted its holdings in shares of Lindsay Co. (NYSE:LNN – Get Rating) by 8.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 275,902 shares of the industrial products company’s stock after acquiring an additional 20,335 shares during the quarter. Allianz Asset Management GmbH’s holdings in Lindsay were worth $41,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of LNN. Schroder Investment Management Group raised its holdings in shares of Lindsay by 0.9% in the third quarter. Schroder Investment Management Group now owns 180,952 shares of the industrial products company’s stock valued at $27,467,000 after buying an additional 1,651 shares during the last quarter. Barclays PLC raised its holdings in Lindsay by 159.9% during the 3rd quarter. Barclays PLC now owns 18,392 shares of the industrial products company’s stock worth $2,792,000 after purchasing an additional 11,316 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Lindsay by 167.7% during the 3rd quarter. Goldman Sachs Group Inc. now owns 25,766 shares of the industrial products company’s stock worth $3,911,000 after purchasing an additional 16,142 shares during the last quarter. TT International Asset Management LTD bought a new stake in Lindsay during the 3rd quarter worth about $1,424,000. Finally, Geode Capital Management LLC raised its holdings in Lindsay by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 183,787 shares of the industrial products company’s stock worth $27,897,000 after purchasing an additional 5,135 shares during the last quarter. 85.44% of the stock is owned by institutional investors.
Separately, StockNews.com started coverage on Lindsay in a research report on Thursday, March 31st. They set a “hold” rating for the company.
NYSE LNN opened at $122.72 on Friday. The company has a current ratio of 2.79, a quick ratio of 1.63 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average price is $142.29 and its two-hundred day moving average price is $142.55. Lindsay Co. has a 1 year low of $118.28 and a 1 year high of $179.26. The firm has a market capitalization of $1.35 billion, a P/E ratio of 29.36 and a beta of 0.53.
Lindsay (NYSE:LNN – Get Rating) last posted its quarterly earnings results on Tuesday, April 5th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.01. Lindsay had a net margin of 6.76% and a return on equity of 16.04%. The firm had revenue of $200.10 million for the quarter, compared to analyst estimates of $187.09 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. On average, research analysts anticipate that Lindsay Co. will post 5.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, May 16th. Lindsay’s payout ratio is presently 31.58%.
About Lindsay (Get Rating)
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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 and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
- Get a free copy of the StockNews.com research report on Lindsay (LNN)
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