Zurcher Kantonalbank Zurich Cantonalbank Has $327,000 Holdings in Lindsay Co. (NYSE:LNN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lindsay Co. (NYSE:LNN) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,528 shares of the industrial products company’s stock after buying an additional 196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lindsay were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LNN. Bank of New York Mellon Corp increased its holdings in shares of Lindsay by 7.0% during 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 during the period. Inspire Investing LLC acquired a new position in Lindsay in the third quarter valued at about $316,000. Annex Advisory Services LLC lifted its position in Lindsay by 26.0% during the third quarter. Annex Advisory Services LLC now owns 5,467 shares of the industrial products company’s stock worth $643,000 after purchasing an additional 1,127 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Lindsay during the third quarter worth about $572,000. Finally, Victory Capital Management Inc. grew its stake in Lindsay by 28.9% during the third quarter. Victory Capital Management Inc. now owns 5,211 shares of the industrial products company’s stock worth $613,000 after buying an additional 1,169 shares in the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LNN shares. Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Friday, April 5th. TheStreet downgraded Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Two 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, Lindsay currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

Lindsay Price Performance

Lindsay stock opened at $118.29 on Friday. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. The stock’s 50 day moving average is $116.75 and its 200 day moving average is $123.03. The firm has a market cap of $1.31 billion, a P/E ratio of 18.87 and a beta of 0.63.

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

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.35 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.18%. Lindsay’s payout ratio is currently 22.33%.

About Lindsay

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.