Raymond James Financial Inc. Buys New Position in Lindsay Co. (NYSE:LNN)

Raymond James Financial Inc. bought a new stake in Lindsay Co. (NYSE:LNN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,160 shares of the industrial products company's stock, valued at approximately $611,000.

Other large investors have also modified their holdings of the company. AlphaQuest LLC acquired a new stake in Lindsay during the 4th quarter valued at approximately $32,000. GAMMA Investing LLC grew 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. Global Retirement Partners LLC grew its position 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 acquiring an additional 86 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock worth $175,000 after acquiring an additional 623 shares in the last quarter. Finally, Gitterman Wealth Management LLC grew its position in shares of Lindsay by 6.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock worth $207,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. StockNews.com upgraded Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th.

Lindsay Stock Up 1.3%

Shares of LNN stock traded up $1.77 on Tuesday, reaching $139.58. 5,803 shares of the company's stock traded hands, compared to its average volume of 81,504. The business's 50 day moving average price is $128.01 and its two-hundred day moving average price is $128.23. 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 Co. has a 12-month low of $109.27 and a 12-month high of $140.26. The company has a market capitalization of $1.52 billion, a P/E ratio of 22.40 and a beta of 0.81.

Lindsay (NYSE:LNN - Get Free Report) last issued 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. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same quarter in the previous year, the company posted $1.64 earnings per share. The business's quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current 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 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 dividend yield of 1.03%. Lindsay's dividend payout ratio (DPR) is presently 20.48%.

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.