Raiffeisen Bank International AG Buys Shares of 24,341 Lindsay Co. (NYSE:LNN)

Raiffeisen Bank International AG purchased a new stake in shares of Lindsay Co. (NYSE:LNN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,341 shares of the industrial products company’s stock, valued at approximately $2,885,000. Raiffeisen Bank International AG owned approximately 0.22% of Lindsay at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Lindsay by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company’s stock valued at $149,091,000 after purchasing an additional 10,649 shares in the last quarter. KBC Group NV boosted its stake in shares of Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock valued at $41,233,000 after purchasing an additional 5,382 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lindsay by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 345,943 shares of the industrial products company’s stock valued at $40,929,000 after purchasing an additional 2,207 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Lindsay by 37.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company’s stock valued at $39,164,000 after purchasing an additional 89,373 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Lindsay by 3.7% during the fourth quarter. First Trust Advisors LP now owns 207,403 shares of the industrial products company’s stock valued at $24,538,000 after purchasing an additional 7,362 shares in the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Price Performance

Lindsay stock opened at $141.68 on Friday. The stock’s 50 day moving average is $128.53 and its 200 day moving average is $128.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The firm has a market cap of $1.54 billion, a P/E ratio of 22.74 and a beta of 0.81. Lindsay Co. has a one year low of $109.27 and a one year high of $142.61.

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

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, May 16th. Lindsay’s dividend payout ratio is currently 20.48%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LNN. Stifel Nicolaus cut their price target on Lindsay from $134.00 to $128.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, April 11th.

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.