First Trust Advisors LP Boosts Stake in Lindsay Co. (NYSE:LNN)

First Trust Advisors LP raised its position in Lindsay Co. (NYSE:LNN - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,403 shares of the industrial products company's stock after acquiring an additional 7,362 shares during the period. First Trust Advisors LP owned approximately 1.91% of Lindsay worth $24,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC purchased a new position in shares of Lindsay in the 4th quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in shares of Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after buying an additional 131 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock worth $109,000 after buying an additional 86 shares during the period. Van ECK Associates Corp lifted its stake in shares of Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock worth $175,000 after buying an additional 623 shares during the period. Finally, Gitterman Wealth Management LLC grew its holdings in shares of Lindsay by 6.1% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock valued at $207,000 after buying an additional 101 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Performance

Shares of NYSE:LNN traded up $1.08 during midday trading on Thursday, reaching $130.14. The company's stock had a trading volume of 11,199 shares, compared to its average volume of 85,720. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average of $127.59 and a 200 day moving average of $127.23. Lindsay Co. has a twelve month low of $109.27 and a twelve month high of $140.27. The firm has a market capitalization of $1.41 billion, a PE ratio of 20.91 and a beta of 0.72.

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, topping the consensus estimate of $1.89 by $0.55. The company had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. On average, equities 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. Shareholders of record on Friday, May 16th will be given a $0.36 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.11%. Lindsay's dividend payout ratio is presently 20.48%.

Analyst Upgrades and Downgrades

LNN has been the subject of a number of research reports. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus decreased their target price on Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a report 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.