56,893 Shares in Lindsay Co. (NYSE:LNN) Purchased by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd acquired a new stake in Lindsay Co. (NYSE:LNNGet Rating) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 56,893 shares of the industrial products company’s stock, valued at approximately $8,933,000. Lombard Odier Asset Management Europe Ltd owned about 0.52% of Lindsay as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuance Investments LLC purchased a new position in shares of Lindsay in the 1st quarter worth about $16,554,000. BlackRock Inc. grew its position in shares of Lindsay by 5.9% during the 1st quarter. BlackRock Inc. now owns 1,886,075 shares of the industrial products company’s stock valued at $296,133,000 after acquiring an additional 104,363 shares during the period. American Century Companies Inc. purchased a new stake in shares of Lindsay during the 1st quarter worth approximately $13,869,000. Alpine Peaks Capital LP bought a new stake in shares of Lindsay in the 4th quarter worth approximately $4,408,000. Finally, Pier Capital LLC purchased a new position in Lindsay in the first quarter valued at approximately $4,504,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.

Lindsay Stock Up 0.3 %

Lindsay stock opened at $160.58 on Friday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 33.11 and a beta of 0.51. The firm has a 50 day simple moving average of $152.21 and a 200 day simple moving average of $141.83. Lindsay Co. has a 1-year low of $116.77 and a 1-year high of $171.69. The company has a current ratio of 2.74, a quick ratio of 1.61 and a debt-to-equity ratio of 0.30.

Lindsay (NYSE:LNNGet Rating) last announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.71. Lindsay had a return on equity of 17.59% and a net margin of 7.27%. The company had revenue of $214.30 million during the quarter, compared to analysts’ expectations of $188.95 million. During the same period in the previous year, the business earned $1.61 earnings per share. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, analysts predict that Lindsay Co. will post 6.39 earnings per share for the current year.

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.36 annualized dividend and a yield of 0.85%. This is a boost from Lindsay’s previous quarterly dividend of $0.33. Lindsay’s payout ratio is currently 28.04%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Roth Capital raised their target price on Lindsay from $135.00 to $160.00 in a research report on Monday, August 1st. Northcoast Research lowered Lindsay from a “buy” rating to a “neutral” rating in a report on Monday, August 15th. Finally, Stifel Nicolaus dropped their price objective on shares of Lindsay from $180.00 to $172.00 in a report on Wednesday, June 15th.

Lindsay Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

Receive News & Ratings for Lindsay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lindsay and related companies with MarketBeat.com's FREE daily email newsletter.