Freestone Grove Partners LP Invests $246,000 in Lindsay Co. (NYSE:LNN)

Freestone Grove Partners LP purchased a new stake in shares of Lindsay Co. (NYSE:LNN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,077 shares of the industrial products company's stock, valued at approximately $246,000.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in Lindsay by 248.8% during 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 during the last quarter. GAMMA Investing LLC increased its stake in shares of Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after purchasing an additional 131 shares in the last quarter. SG Americas Securities LLC raised its holdings in Lindsay by 746.5% in the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock worth $6,168,000 after purchasing an additional 45,979 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Lindsay during the fourth quarter valued at $679,000. Finally, KBC Group NV grew its holdings in Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company's stock valued at $41,233,000 after purchasing an additional 5,382 shares during the period. Institutional investors own 89.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Lindsay from $134.00 to $128.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. StockNews.com raised shares of Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th.

Lindsay Price Performance

LNN stock traded up $0.92 during trading on Friday, reaching $134.28. The company's stock had a trading volume of 79,214 shares, compared to its average volume of 85,449. 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 company's fifty day moving average is $127.84 and its 200-day moving average is $128.08. The company has a market capitalization of $1.46 billion, a P/E ratio of 21.55 and a beta of 0.81. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.27.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $187.10 million during the quarter, compared to analysts' expectations of $174.50 million. During the same quarter last year, the business posted $1.64 earnings per share. The firm's revenue was up 23.5% on a year-over-year basis. On average, research analysts expect that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.07%. Lindsay's payout ratio is 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.