Millennium Management LLC Boosts Position in Lindsay Co. (NYSE:LNN)

Millennium Management LLC boosted its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 80.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,636 shares of the industrial products company's stock after acquiring an additional 3,838 shares during the period. Millennium Management LLC owned 0.08% of Lindsay worth $1,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNN. Barclays PLC boosted its position in Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock valued at $2,446,000 after buying an additional 13,986 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Lindsay in the 4th quarter valued at $32,000. Principal Financial Group Inc. lifted its stake in shares of 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 acquiring an additional 1,324 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Lindsay during the 4th quarter valued at $292,000. Finally, American Century Companies Inc. grew its position in Lindsay by 5.4% during the 4th quarter. American Century Companies Inc. now owns 43,802 shares of the industrial products company's stock worth $5,182,000 after acquiring an additional 2,229 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th.

Lindsay Trading Up 0.1%

NYSE:LNN traded up $0.17 during trading hours on Friday, hitting $135.44. 57,640 shares of the company were exchanged, compared to its average volume of 84,809. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 21.74 and a beta of 0.81. Lindsay Co. has a one year low of $109.27 and a one year high of $144.08. The company has a fifty day simple moving average of $131.83 and a 200 day simple moving average of $130.20. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN - Get Free Report) last issued 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. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company had revenue of $187.10 million during the quarter, compared to analysts' expectations of $174.50 million. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The business's quarterly revenue was up 23.5% on a year-over-year basis. Sell-side analysts expect that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. 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.