Lindsay Co. (NYSE:LNN) Holdings Lifted by Heartland Advisors Inc.

Heartland Advisors Inc. raised its stake in shares of Lindsay Co. (NYSE:LNN) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,713 shares of the industrial products company’s stock after buying an additional 275 shares during the period. Heartland Advisors Inc. owned about 0.49% of Lindsay worth $6,355,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LNN. Lightrock Netherlands B.V. acquired a new stake in shares of Lindsay in the fourth quarter valued at about $11,396,000. SG Americas Securities LLC grew its holdings in Lindsay by 746.5% during the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock worth $6,168,000 after acquiring an additional 45,979 shares during the last quarter. Jennison Associates LLC bought a new position in Lindsay in the fourth quarter valued at about $5,088,000. Wellington Management Group LLP lifted its stake in shares of Lindsay by 35.4% in the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after purchasing an additional 36,128 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Lindsay by 304.7% during the 4th quarter. JPMorgan Chase & Co. now owns 41,640 shares of the industrial products company’s stock worth $4,926,000 after acquiring an additional 31,351 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Stifel Nicolaus boosted their target price on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Lindsay Price Performance

Lindsay stock opened at $126.55 on Friday. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 20.31 and a beta of 0.70. Lindsay Co. has a 12 month low of $109.27 and a 12 month high of $140.27. The business’s 50 day simple moving average is $132.00 and its 200 day simple moving average is $126.69.

Lindsay (NYSE:LNN) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. During the same quarter in the previous year, the firm earned $1.36 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, February 14th. Lindsay’s payout ratio is 23.11%.

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.