Lindsay Corporation (NYSE:LNN) Shares Acquired by KBC Group NV

KBC Group NV increased its position in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,238 shares of the industrial products company's stock after acquiring an additional 4,724 shares during the period. KBC Group NV owned about 3.25% of Lindsay worth $44,692,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LNN. Cardinal Capital Management increased its stake in Lindsay by 3.7% during the first quarter. Cardinal Capital Management now owns 16,755 shares of the industrial products company's stock worth $2,120,000 after purchasing an additional 596 shares during the period. Union Bancaire Privee UBP SA grew its holdings in shares of Lindsay by 4.7% in the first quarter. Union Bancaire Privee UBP SA now owns 5,918 shares of the industrial products company's stock valued at $775,000 after purchasing an additional 265 shares in the last quarter. GAMMA Investing LLC increased its stake in Lindsay by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock worth $54,000 after buying an additional 154 shares during the period. Wellington Management Group LLP lifted its holdings in Lindsay by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 146,122 shares of the industrial products company's stock worth $17,288,000 after buying an additional 7,952 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new position in Lindsay in the 4th quarter valued at approximately $233,000. Institutional investors and hedge funds own 89.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on LNN shares. Wall Street Zen upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Stifel Nicolaus boosted their target price on Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a research note on Friday.

Lindsay Trading Down 0.5%

Shares of NYSE:LNN opened at $142.58 on Monday. Lindsay Corporation has a 52 week low of $109.27 and a 52 week high of $150.96. The company's 50 day moving average is $135.70 and its two-hundred day moving average is $130.83. The company has a market cap of $1.55 billion, a PE ratio of 20.49 and a beta of 0.82. The company has a current ratio of 3.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22.

Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.42. The company had revenue of $169.46 million for the quarter, compared to analysts' expectations of $157.87 million. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. Lindsay's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $1.85 earnings per share. Equities analysts predict that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.37 per share. This is a boost from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 1.04%. Lindsay's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.