Lindsay Co. (NYSE:LNN) Shares Purchased by UBS Group AG

UBS Group AG boosted its holdings in Lindsay Co. (NYSE:LNNFree Report) by 212.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,021 shares of the industrial products company’s stock after buying an additional 44,226 shares during the period. UBS Group AG owned 0.59% of Lindsay worth $8,398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LNN. Victory Capital Management Inc. boosted its position in shares of Lindsay by 28.9% in the third quarter. Victory Capital Management Inc. now owns 5,211 shares of the industrial products company’s stock worth $613,000 after acquiring an additional 1,169 shares during the last quarter. Barclays PLC grew its stake in shares of Lindsay by 8.7% during the 3rd quarter. Barclays PLC now owns 10,221 shares of the industrial products company’s stock valued at $1,203,000 after buying an additional 818 shares during the period. Swiss National Bank increased its holdings in shares of Lindsay by 0.8% during the 3rd quarter. Swiss National Bank now owns 24,200 shares of the industrial products company’s stock worth $2,848,000 after buying an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Lindsay by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 112,822 shares of the industrial products company’s stock worth $13,277,000 after buying an additional 4,572 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Lindsay by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 10,816 shares of the industrial products company’s stock worth $1,269,000 after buying an additional 249 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Analyst Upgrades and Downgrades

LNN has been the subject of several research analyst reports. StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Finally, Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.33.

View Our Latest Stock Analysis on LNN

Lindsay Stock Performance

Shares of NYSE:LNN opened at $117.13 on Tuesday. The business’s 50-day simple moving average is $116.54 and its 200 day simple moving average is $122.03. The company has a market cap of $1.29 billion, a P/E ratio of 18.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.58 and a current ratio of 3.87. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31.

Lindsay (NYSE:LNNGet Free Report) last posted its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. The company had revenue of $151.50 million for the quarter, compared to analyst estimates of $172.06 million. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 earnings per share. On average, sell-side analysts forecast that Lindsay Co. will post 5.3 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.20%. Lindsay’s payout ratio is currently 22.33%.

About Lindsay

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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