Lindsay Co. (NYSE:LNN) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its stake in shares of Lindsay Co. (NYSE:LNN) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,753 shares of the industrial products company’s stock after acquiring an additional 455 shares during the period. Ameriprise Financial Inc. owned about 0.34% of Lindsay worth $4,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. AlphaQuest LLC acquired a new stake in Lindsay during the fourth quarter worth about $32,000. Global Retirement Partners LLC lifted its holdings 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 acquiring an additional 86 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Lindsay by 73.1% in the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 623 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Lindsay by 729.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock worth $202,000 after acquiring an additional 1,503 shares during the last quarter. Finally, Gitterman Wealth Management LLC lifted its holdings in Lindsay by 6.1% in the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 101 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Trading Up 0.5%

Lindsay stock opened at $137.75 on Monday. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $129.81 and a two-hundred day moving average price of $129.34. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 22.11 and a beta of 0.81. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $143.69.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.55. The firm 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%. Lindsay’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 EPS. Sell-side analysts expect that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, May 16th. Lindsay’s payout ratio is 20.48%.

Wall Street Analysts Forecast Growth

LNN has been the topic of a number of recent research reports. Wall Street Zen raised shares of Lindsay from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Stifel Nicolaus cut their target price on shares of Lindsay from $134.00 to $128.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th.

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.