Raiffeisen Bank International AG Takes $2.89 Million Position in Lindsay Co. (NYSE:LNN)

Raiffeisen Bank International AG acquired a new stake in shares of Lindsay Co. (NYSE:LNN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,341 shares of the industrial products company’s stock, valued at approximately $2,885,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC bought a new stake in Lindsay during the fourth quarter worth $32,000. Global Retirement Partners LLC boosted its position in Lindsay by 10.3% in the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 86 shares during the last quarter. Van ECK Associates Corp boosted its position in Lindsay by 73.1% in 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. Tower Research Capital LLC TRC boosted its position in Lindsay by 729.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 1,503 shares during the last quarter. Finally, Gitterman Wealth Management LLC boosted its position in Lindsay by 6.1% in 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 during the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Stock Up 2.9%

LNN stock opened at $141.68 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 22.74 and a beta of 0.81. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $142.61. The stock has a fifty day moving average of $128.53 and a 200-day moving average of $128.51.

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

Lindsay Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on LNN shares. Stifel Nicolaus cut their price objective on Lindsay from $134.00 to $128.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, April 11th.

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.