Lindsay Co. (NYSE:LNN) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,566 shares of the industrial products company's stock after buying an additional 6,860 shares during the quarter. Northern Trust Corp owned 1.13% of Lindsay worth $14,501,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Lightrock Netherlands B.V. acquired a new position in shares of Lindsay in the fourth quarter valued at approximately $11,396,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Lindsay by 37.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company's stock valued at $39,164,000 after purchasing an additional 89,373 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Lindsay by 746.5% in the fourth quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock valued at $6,168,000 after purchasing an additional 45,979 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Lindsay in the fourth quarter valued at approximately $5,088,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Lindsay by 304.7% in the fourth quarter. JPMorgan Chase & Co. now owns 41,640 shares of the industrial products company's stock valued at $4,926,000 after purchasing an additional 31,351 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus lowered their price target on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th.

Lindsay Price Performance

Shares of NYSE:LNN traded up $0.77 on Monday, reaching $142.61. 42,121 shares of the company were exchanged, compared to its average volume of 85,064. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 22.89 and a beta of 0.81. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $142.71. The company has a 50-day moving average of $128.75 and a 200-day moving average of $128.81. 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 posted its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.55. The company had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business's quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 earnings per share. Equities analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.01%. Lindsay's dividend payout ratio is currently 20.48%.

Lindsay Company 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.