Quadrature Capital Ltd Grows Stake in Lindsay Co. (NYSE:LNN)

Quadrature Capital Ltd lifted its holdings in shares of Lindsay Co. (NYSE:LNN) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,260 shares of the industrial products company’s stock after acquiring an additional 1,727 shares during the quarter. Quadrature Capital Ltd owned 0.25% of Lindsay worth $3,521,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LNN. Stephens Investment Management Group LLC raised its holdings in shares of Lindsay by 7.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 116,812 shares of the industrial products company’s stock valued at $15,087,000 after buying an additional 8,096 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in Lindsay during the 4th quarter worth approximately $358,000. Olympiad Research LP purchased a new position in Lindsay during the 4th quarter worth approximately $305,000. Quest Partners LLC purchased a new position in shares of Lindsay during the 4th quarter valued at $51,000. Finally, UBS Group AG grew its holdings in shares of Lindsay by 212.7% during the 4th quarter. UBS Group AG now owns 65,021 shares of the industrial products company’s stock valued at $8,398,000 after acquiring an additional 44,226 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Stock Down 0.4 %

Shares of LNN traded down $0.48 during trading hours on Friday, reaching $113.82. 60,661 shares of the stock traded hands, compared to its average volume of 81,785. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $116.25 and a 200 day simple moving average of $121.77. Lindsay Co. has a 52 week low of $106.46 and a 52 week high of $137.31. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 18.15 and a beta of 0.61.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $172.06 million. During the same quarter in the previous year, the company earned $1.63 earnings per share. Lindsay’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts forecast that Lindsay Co. will post 5.3 EPS for the current year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, May 16th. Lindsay’s payout ratio is 22.33%.

Wall Street Analyst Weigh In

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

Lindsay 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.