Balyasny Asset Management L.P. Purchases New Position in Lindsay Co. (NYSE:LNN)

Balyasny Asset Management L.P. bought a new position in Lindsay Co. (NYSE:LNN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,118 shares of the industrial products company's stock, valued at approximately $724,000. Balyasny Asset Management L.P. owned about 0.06% of Lindsay at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AlphaQuest LLC bought a new stake in shares of Lindsay in the fourth quarter worth about $32,000. GAMMA Investing LLC increased its holdings in shares of Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of 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 increased its holdings in shares of 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. Finally, Tower Research Capital LLC TRC increased its holdings in shares of 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. 89.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Lindsay Trading Up 0.4%

NYSE LNN traded up $0.53 during trading hours on Friday, hitting $141.97. 63,568 shares of the company were exchanged, compared to its average volume of 85,236. The stock has a 50-day moving average price of $128.75 and a 200 day moving average price of $128.75. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $142.61. The stock has a market cap of $1.54 billion, a PE ratio of 22.79 and a beta of 0.81.

Lindsay (NYSE:LNN - Get Free Report) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $174.50 million. During the same quarter in the previous year, the business earned $1.64 earnings per share. The company's revenue for the quarter was up 23.5% compared to the same quarter last year. Analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.44 annualized dividend and a dividend yield of 1.01%. Lindsay's dividend payout ratio (DPR) is presently 20.48%.

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.