Teacher Retirement System of Texas Purchases 11,477 Shares of Lindsay Co. (NYSE:LNN)

Teacher Retirement System of Texas increased its position in shares of Lindsay Co. (NYSE:LNN) by 232.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,404 shares of the industrial products company’s stock after buying an additional 11,477 shares during the period. Teacher Retirement System of Texas owned 0.15% of Lindsay worth $1,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LNN. AlphaQuest LLC acquired a new position in shares of Lindsay during the 4th quarter valued at $32,000. GAMMA Investing LLC increased its stake in Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 86 shares during the period. Van ECK Associates Corp boosted its position in shares of Lindsay by 73.1% during the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 623 shares in the last quarter. Finally, Gitterman Wealth Management LLC grew its stake in shares of Lindsay by 6.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock valued at $207,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th.

Lindsay Trading Up 0.2 %

LNN opened at $130.82 on Friday. Lindsay Co. has a fifty-two week low of $109.27 and a fifty-two week high of $140.27. The firm has a market capitalization of $1.42 billion, a PE ratio of 21.00 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The company’s 50-day moving average is $132.13 and its 200 day moving average is $126.61.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.39 by $0.18. The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, research analysts predict that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend 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.