Raiffeisen Bank International AG Makes New Investment in Lindsay Co. (NYSE:LNN)

Raiffeisen Bank International AG acquired a new position in shares of Lindsay Co. (NYSE:LNN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,341 shares of the industrial products company's stock, valued at approximately $2,885,000. Raiffeisen Bank International AG owned approximately 0.22% of Lindsay as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Corient Private Wealth LLC raised its stake in Lindsay by 1.8% in the fourth quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company's stock valued at $534,000 after purchasing an additional 78 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Lindsay by 10.3% in the 4th 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 last quarter. Gitterman Wealth Management LLC raised its position in shares of Lindsay by 6.1% during the 4th 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 in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Lindsay by 1.7% during 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. Finally, Hsbc Holdings PLC lifted its holdings in shares of Lindsay by 12.8% during the 4th quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock worth $225,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Analysts Set New Price Targets

LNN has been the subject of a number of recent research reports. StockNews.com upgraded Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus cut their price objective on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th.

Lindsay Trading Down 2.1%

LNN stock traded down $2.95 during trading on Wednesday, reaching $138.14. The company had a trading volume of 12,102 shares, compared to its average volume of 84,734. 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 52 week low of $109.27 and a 52 week high of $143.69. The company has a market cap of $1.50 billion, a P/E ratio of 22.17 and a beta of 0.81. The business has a 50 day moving average of $129.32 and a 200 day moving average of $129.05.

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, beating the consensus estimate of $1.89 by $0.55. The firm had revenue of $187.10 million during 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 revenue was up 23.5% on a year-over-year basis. During the same period last year, the business earned $1.64 earnings per share. As a group, sell-side analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.04%. Lindsay's dividend payout ratio is presently 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.