Capstone Investment Advisors LLC Buys New Position in Lindsay Co. (NYSE:LNN)

Capstone Investment Advisors LLC purchased a new position in shares of Lindsay Co. (NYSE:LNN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,821 shares of the industrial products company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC bought a new position in Lindsay during the fourth quarter worth $32,000. GAMMA Investing LLC raised its position in shares of Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Lindsay by 10.3% in the 4th 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 in the last quarter. Van ECK Associates Corp lifted its stake in shares of Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Stifel Nicolaus dropped their target price on shares of Lindsay from $134.00 to $128.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th.

Lindsay Stock Performance

Shares of Lindsay stock opened at $134.36 on Wednesday. The business has a 50-day simple moving average of $127.58 and a 200 day simple moving average of $127.67. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 21.57 and a beta of 0.81. 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 Co. has a one year low of $109.27 and a one year high of $140.27.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. During the same period in the prior year, the firm earned $1.64 earnings per share. Lindsay’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, research analysts anticipate that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, May 16th. Lindsay’s payout ratio is presently 20.48%.

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.