Canada Pension Plan Investment Board Buys New Holdings in Lindsay Co. (NYSE:LNN)

Canada Pension Plan Investment Board bought a new position in Lindsay Co. (NYSE:LNN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,500 shares of the industrial products company's stock, valued at approximately $296,000.

Several other large investors have also added to or reduced their stakes in LNN. Barclays PLC raised its holdings in shares of Lindsay by 248.8% during the 3rd 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 in the last quarter. GAMMA Investing LLC increased its stake in 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 period. SG Americas Securities LLC grew its stake in Lindsay by 746.5% in the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock worth $6,168,000 after acquiring an additional 45,979 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Lindsay during the fourth quarter worth approximately $679,000. Finally, KBC Group NV raised its stake in shares of 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 acquiring an additional 5,382 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Stock Up 1.3 %

LNN stock traded up $1.70 during trading on Thursday, hitting $130.76. 10,388 shares of the company's stock traded hands, compared to its average volume of 85,711. The firm has a market capitalization of $1.42 billion, a P/E ratio of 20.99 and a beta of 0.72. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.27. 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 business has a fifty day simple moving average of $127.59 and a two-hundred day simple moving average of $127.23.

Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.55. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business's revenue was up 23.5% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. Sell-side analysts anticipate that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 16th. Lindsay's dividend payout ratio is currently 20.48%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Stifel Nicolaus decreased their price objective on Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a report on Wednesday, April 16th.

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.