Lindsay Co. (NYSE:LNN) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in Lindsay Co. (NYSE:LNN - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 146,122 shares of the industrial products company's stock after acquiring an additional 7,952 shares during the quarter. Wellington Management Group LLP owned approximately 1.34% of Lindsay worth $17,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LNN. Corient Private Wealth LLC boosted its stake in Lindsay by 1.8% during the 4th quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company's stock worth $534,000 after purchasing an additional 78 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Lindsay by 10.3% during the 4th 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. Gitterman Wealth Management LLC boosted its stake in Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock worth $207,000 after purchasing an additional 101 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Lindsay by 1.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock worth $1,253,000 after purchasing an additional 177 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Lindsay by 12.8% during the 4th quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock worth $225,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Trading Down 0.9%

Shares of LNN stock traded down $1.26 on Thursday, hitting $135.31. 69,889 shares of the stock traded hands, compared to its average volume of 84,744. The firm's 50-day moving average price is $131.66 and its two-hundred day moving average price is $130.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The stock has a market capitalization of $1.47 billion, a PE ratio of 21.72 and a beta of 0.81. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $144.08.

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 for the quarter, beating the consensus estimate of $1.89 by $0.55. The firm had revenue of $187.10 million for the quarter, compared to analysts' expectations of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company's revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, 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 was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.36 per share. The ex-dividend date was Friday, May 16th. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. Lindsay's payout ratio is 20.48%.

Analyst Upgrades and Downgrades

LNN has been the topic of several recent research reports. Stifel Nicolaus lowered their target price on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen raised shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th.

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.