GAMMA Investing LLC Buys 54,128 Shares of Lindsay Co. (NYSE:LNN)

GAMMA Investing LLC boosted its stake in Lindsay Co. (NYSE:LNN - Free Report) by 19,611.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,404 shares of the industrial products company's stock after purchasing an additional 54,128 shares during the period. GAMMA Investing LLC owned about 0.50% of Lindsay worth $6,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LNN. Barclays PLC lifted its stake 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 purchasing an additional 13,986 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in Lindsay by 1.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 89,344 shares of the industrial products company's stock valued at $10,570,000 after purchasing an additional 1,509 shares during the last quarter. Lightrock Netherlands B.V. bought a new position in Lindsay in the 4th quarter valued at approximately $11,396,000. Van ECK Associates Corp lifted its stake in Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 623 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Lindsay by 2.5% in 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 purchasing an additional 1,324 shares during the last quarter. Institutional investors own 89.94% of the company's stock.

Wall Street Analysts Forecast Growth

LNN has been the subject of several research reports. Wall Street Zen raised shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Stifel Nicolaus dropped their price target 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 Price Performance

LNN stock opened at $135.44 on Monday. The company has a fifty day moving average price of $131.83 and a 200-day moving average price of $130.20. The company has a market capitalization of $1.47 billion, a P/E ratio of 21.74 and a beta of 0.82. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $144.08. 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 - Get Free Report) last released its quarterly 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. The firm had revenue of $187.10 million during 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 company's revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 earnings per share. As a group, equities analysts expect that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, May 16th. Lindsay's dividend payout ratio 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.

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