Raymond James Financial Inc. Invests $611,000 in Lindsay Co. (NYSE:LNN)

Raymond James Financial Inc. acquired a new position in Lindsay Co. (NYSE:LNN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,160 shares of the industrial products company’s stock, valued at approximately $611,000.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV boosted its position in 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 during the last quarter. Wellington Management Group LLP increased its holdings in Lindsay by 35.4% during the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock worth $17,222,000 after buying an additional 36,128 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Lindsay by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,092 shares of the industrial products company’s stock worth $16,338,000 after acquiring an additional 5,140 shares in the last quarter. Lightrock Netherlands B.V. acquired a new stake in Lindsay in the fourth quarter valued at $11,396,000. Finally, Stephens Investment Management Group LLC increased its stake in shares of Lindsay by 1.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 89,344 shares of the industrial products company’s stock worth $10,570,000 after purchasing an additional 1,509 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LNN shares. StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus raised their price target on Lindsay from $130.00 to $134.00 and gave the company a “hold” rating in a report on Friday.

Lindsay Stock Down 7.4 %

Lindsay stock opened at $119.75 on Monday. The company’s 50-day moving average price is $131.04 and its two-hundred day moving average price is $127.02. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.27.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share 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 analysts’ expectations of $174.50 million. During the same period last year, the firm posted $1.64 EPS. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, analysts expect that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The firm also recently disclosed 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. This represents a $1.44 annualized dividend and a yield of 1.20%. Lindsay’s dividend payout ratio (DPR) is 23.11%.

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.