Balyasny Asset Management L.P. Acquires Shares of 6,118 Lindsay Co. (NYSE:LNN)

Balyasny Asset Management L.P. purchased a new stake in Lindsay Co. (NYSE:LNN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC increased its holdings in Lindsay by 248.8% in the 3rd quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock valued at $2,446,000 after acquiring an additional 13,986 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Lindsay in the 4th quarter worth about $679,000. AlphaQuest LLC bought a new stake in shares of Lindsay in the 4th quarter worth about $32,000. KBC Group NV increased its holdings in shares of Lindsay by 1.6% in the 4th 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 during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Lindsay by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company's stock worth $6,368,000 after buying an additional 1,324 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LNN has been the topic of a number of research reports. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus reduced their target price on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th.

Lindsay Trading Down 0.3%

NYSE:LNN traded down $0.46 during mid-day trading on Tuesday, hitting $142.30. 2,873 shares of the stock traded hands, compared to its average volume of 84,745. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 22.84 and a beta of 0.81. Lindsay Co. has a 52 week low of $109.27 and a 52 week high of $143.01. The firm's 50 day moving average is $129.05 and its two-hundred day moving average is $128.97. 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 (NYSE:LNN - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $1.89 by $0.55. The company had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm's revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 EPS. On average, equities research analysts predict that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.01%. Lindsay's payout ratio is 20.48%.

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.