2,470 Shares in Lindsay Co. (NYSE:LNN) Purchased by Franklin Resources Inc.

Franklin Resources Inc. acquired a new stake in shares of Lindsay Co. (NYSE:LNN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,470 shares of the industrial products company’s stock, valued at approximately $292,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Lindsay by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company’s stock valued at $149,091,000 after purchasing an additional 10,649 shares during the last quarter. KBC Group NV lifted its holdings in Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock valued at $41,233,000 after purchasing an additional 5,382 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Lindsay by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 146,122 shares of the industrial products company’s stock valued at $17,288,000 after acquiring an additional 7,952 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Lindsay by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,092 shares of the industrial products company’s stock worth $16,338,000 after buying an additional 5,140 shares in the last quarter. Finally, Lightrock Netherlands B.V. acquired a new position in Lindsay during the fourth quarter worth $11,396,000. Institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus lowered their target price on Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a report on Wednesday. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a report on Friday, April 11th.

Lindsay Trading Down 0.4 %

Shares of LNN opened at $124.22 on Friday. The firm has a 50 day simple moving average of $128.73 and a 200-day simple moving average of $126.94. Lindsay Co. has a 1-year low of $109.27 and a 1-year high of $140.27. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 19.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.55. The company had revenue of $187.10 million during the quarter, compared to analyst estimates of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. Equities analysts forecast that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. Lindsay’s dividend payout ratio (DPR) is presently 20.48%.

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.