Putney Financial Group LLC Makes New Investment in Lindsay Co. (NYSE:LNN)

Putney Financial Group LLC acquired a new stake in Lindsay Co. (NYSE:LNN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,970 shares of the industrial products company's stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Corient Private Wealth LLC grew its stake in shares of Lindsay by 1.8% during the fourth 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 in the last quarter. Global Retirement Partners LLC increased its stake in Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock valued at $109,000 after buying an additional 86 shares during the period. Gitterman Wealth Management LLC raised its position 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 buying an additional 101 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Lindsay by 1.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock worth $1,253,000 after acquiring an additional 177 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Lindsay by 12.8% in the fourth quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock valued at $225,000 after acquiring an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Price Performance

Shares of LNN stock traded down $0.69 during midday trading on Friday, reaching $140.06. 20,268 shares of the company traded hands, compared to its average volume of 84,694. The firm's 50 day simple moving average is $130.74 and its two-hundred day simple moving average is $129.65. The firm has a market cap of $1.52 billion, a PE ratio of 22.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $143.69.

Lindsay (NYSE:LNN - Get Free Report) last posted its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $174.50 million. During the same period in the previous year, the business earned $1.64 earnings per share. Lindsay's quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts expect that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.03%. Lindsay's dividend payout ratio is currently 20.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LNN shares. Wall Street Zen raised Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus lowered their price target 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.

Lindsay 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.