Hsbc Holdings PLC Increases Position in Lindsay Co. (NYSE:LNN)

Hsbc Holdings PLC increased its position in Lindsay Co. (NYSE:LNN) by 12.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,891 shares of the industrial products company’s stock after buying an additional 214 shares during the period. Hsbc Holdings PLC’s holdings in Lindsay were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of LNN. Barclays PLC boosted its position in shares of Lindsay by 248.8% during the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 13,986 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Lindsay during the fourth quarter valued at about $679,000. AlphaQuest LLC bought a new stake in shares of Lindsay in the fourth quarter worth about $32,000. KBC Group NV lifted its position in shares of Lindsay by 1.6% in the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock worth $41,233,000 after buying an additional 5,382 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Lindsay by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company’s stock valued at $6,368,000 after buying an additional 1,324 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Stock Performance

NYSE:LNN opened at $134.28 on Friday. The firm has a market capitalization of $1.46 billion, a PE ratio of 21.55 and a beta of 0.81. The stock’s fifty day moving average is $127.84 and its 200 day moving average is $128.08. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $140.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

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

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.07%. Lindsay’s dividend payout ratio is 20.48%.

Wall Street Analyst Weigh In

LNN has been the subject of a number of recent research reports. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Stifel Nicolaus dropped their price target on Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th.

Lindsay 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.