International Assets Investment Management LLC Makes New $434,000 Investment in Lindsay Co. (NYSE:LNN)

International Assets Investment Management LLC bought a new position in Lindsay Co. (NYSE:LNN) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 3,358 shares of the industrial products company’s stock, valued at approximately $434,000.

A number of other large investors have also added to or reduced their stakes in the company. Nuance Investments LLC raised its holdings in Lindsay by 19.2% in the third quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company’s stock worth $41,267,000 after purchasing an additional 56,526 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Lindsay by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 211,195 shares of the industrial products company’s stock worth $24,853,000 after purchasing an additional 13,760 shares in the last quarter. American Century Companies Inc. raised its holdings in Lindsay by 3,922.9% in the third quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock worth $22,445,000 after purchasing an additional 185,985 shares in the last quarter. Pacer Advisors Inc. bought a new position in Lindsay in the fourth quarter worth about $24,285,000. Finally, Robeco Schweiz AG bought a new position in Lindsay in the third quarter worth about $15,851,000. 89.94% of the stock is currently owned by institutional investors.

Lindsay Stock Performance

Shares of Lindsay stock opened at $117.34 on Friday. Lindsay Co. has a 52 week low of $106.46 and a 52 week high of $137.31. The company has a 50 day moving average price of $117.32 and a 200 day moving average price of $122.91. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.30 billion, a P/E ratio of 18.71 and a beta of 0.61.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The company had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. During the same quarter in the prior year, the company earned $1.63 EPS. Lindsay’s quarterly revenue was down 8.8% on a year-over-year basis. Sell-side analysts expect that Lindsay Co. will post 5.3 EPS for the current year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 annualized dividend and a yield of 1.19%. Lindsay’s dividend payout ratio (DPR) is presently 22.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LNN. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

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.