2,967 Shares in Lindsay Co. (NYSE:LNN) Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new stake in shares of Lindsay Co. (NYSE:LNN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,967 shares of the industrial products company's stock, valued at approximately $351,000.

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

Lindsay Stock Performance

NYSE:LNN traded up $2.44 on Friday, hitting $132.84. The stock had a trading volume of 36,954 shares, compared to its average volume of 85,525. The business's 50-day simple moving average is $127.56 and its two-hundred day simple moving average is $127.44. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 21.32 and a beta of 0.72. Lindsay Co. has a 52-week low of $109.27 and a 52-week 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.

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

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given 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 1.08%. Lindsay's dividend payout ratio (DPR) is presently 20.48%.

Analyst Ratings Changes

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

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.