T. Rowe Price Investment Management Inc. Purchases 89,373 Shares of Lindsay Co. (NYSE:LNN)

T. Rowe Price Investment Management Inc. grew its position in shares of Lindsay Co. (NYSE:LNN - Free Report) by 37.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,027 shares of the industrial products company's stock after purchasing an additional 89,373 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 3.05% of Lindsay worth $39,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNN. Corient Private Wealth LLC grew its position in 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 buying an additional 78 shares in the last quarter. Global Retirement Partners LLC raised its holdings 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 acquiring an additional 86 shares in the last quarter. Gitterman Wealth Management LLC increased its stake in shares of Lindsay by 6.1% in 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 period. GAMMA Investing LLC raised its position 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 acquiring an additional 131 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Lindsay by 1.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock valued at $1,253,000 after buying an additional 177 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

Lindsay Price Performance

Shares of Lindsay stock traded up $2.64 on Friday, hitting $133.04. The company's stock had a trading volume of 11,312 shares, compared to its average volume of 85,536. The firm has a fifty day moving average price of $127.58 and a 200-day moving average price of $127.30. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.27. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 21.41 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

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, beating analysts' consensus estimates of $1.89 by $0.55. The firm had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company's revenue was up 23.5% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. As a group, sell-side analysts anticipate that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, May 16th. Lindsay's dividend payout ratio (DPR) is presently 20.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LNN. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus cut their price target on 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.