UBS Group AG boosted its position in Lindsay Corporation (NYSE:LNN – Free Report) by 43.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,745 shares of the industrial products company’s stock after buying an additional 38,386 shares during the quarter. UBS Group AG owned approximately 1.21% of Lindsay worth $14,939,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Copeland Capital Management LLC acquired a new stake in Lindsay in the 4th quarter valued at approximately $62,000. Lightrock Netherlands B.V. raised its position in Lindsay by 5.2% in the 4th quarter. Lightrock Netherlands B.V. now owns 132,415 shares of the industrial products company’s stock valued at $15,608,000 after buying an additional 6,500 shares during the last quarter. State of Alaska Department of Revenue raised its position in Lindsay by 67.6% in the 4th quarter. State of Alaska Department of Revenue now owns 10,169 shares of the industrial products company’s stock valued at $1,197,000 after buying an additional 4,101 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in Lindsay in the 4th quarter valued at approximately $256,000. Finally, Chatham Capital Group Inc. raised its position in Lindsay by 1.4% in the 4th quarter. Chatham Capital Group Inc. now owns 12,440 shares of the industrial products company’s stock valued at $1,466,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.
Lindsay Stock Down 2.4%
NYSE:LNN opened at $105.44 on Thursday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 19.31 and a beta of 0.73. Lindsay Corporation has a twelve month low of $97.27 and a twelve month high of $150.96. The stock’s 50 day moving average price is $114.84 and its two-hundred day moving average price is $119.33. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23.
Lindsay Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, May 15th. Lindsay’s payout ratio is currently 27.11%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Stifel Nicolaus lowered their price target on Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Zacks Research lowered Lindsay from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings raised Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lindsay has a consensus rating of “Reduce” and a consensus price target of $113.00.
Get Our Latest Stock Report on LNN
About Lindsay
Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.
Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.
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