Raymond James Financial Inc. Makes New $611,000 Investment in Lindsay Co. (NYSE:LNN)

Raymond James Financial Inc. acquired a new position in shares of Lindsay Co. (NYSE:LNN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,160 shares of the industrial products company's stock, valued at approximately $611,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in Lindsay by 10.3% in the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock worth $109,000 after purchasing an additional 86 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $33,000 after acquiring an additional 131 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Lindsay by 6.8% during the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company's stock valued at $392,000 after acquiring an additional 200 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Lindsay by 8.3% during the third quarter. BNP Paribas Financial Markets now owns 5,026 shares of the industrial products company's stock worth $626,000 after purchasing an additional 384 shares during the last quarter. Finally, Cardinal Capital Management boosted its holdings in Lindsay by 3.0% in the fourth quarter. Cardinal Capital Management now owns 16,159 shares of the industrial products company's stock worth $1,912,000 after purchasing an additional 476 shares during the period. Institutional investors own 89.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday. Stifel Nicolaus raised their target price on Lindsay from $130.00 to $134.00 and gave the company a "hold" rating in a research note on Friday, April 4th.

Lindsay Stock Performance

Shares of NYSE:LNN traded up $3.81 during trading hours on Friday, hitting $127.30. The stock had a trading volume of 69,693 shares, compared to its average volume of 86,689. The stock's fifty day simple moving average is $129.27 and its 200 day simple moving average is $126.89. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 20.43 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 Co. has a 1-year low of $109.27 and a 1-year high of $140.27.

Lindsay (NYSE:LNN - Get Free Report) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $174.50 million. During the same quarter in the previous year, the business earned $1.64 EPS. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. Sell-side analysts anticipate that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, May 16th. Lindsay's payout ratio is currently 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.