Lindsay Co. (NYSE:LNN) Shares Bought by First Trust Advisors LP

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First Trust Advisors LP boosted its position in shares of Lindsay Co. (NYSE:LNN) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,010 shares of the industrial products company’s stock after buying an additional 7,383 shares during the period. First Trust Advisors LP owned 1.03% of Lindsay worth $10,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LNN. Tower Research Capital LLC TRC acquired a new position in Lindsay during the third quarter worth approximately $48,000. Royal Bank of Canada increased its position in Lindsay by 283.0% during the second quarter. Royal Bank of Canada now owns 1,919 shares of the industrial products company’s stock worth $158,000 after buying an additional 1,418 shares during the period. SG Americas Securities LLC acquired a new position in Lindsay during the fourth quarter worth approximately $191,000. Envestnet Asset Management Inc. acquired a new position in Lindsay during the third quarter worth approximately $218,000. Finally, Metropolitan Life Insurance Co NY increased its position in Lindsay by 5.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 3,424 shares of the industrial products company’s stock worth $318,000 after buying an additional 162 shares during the period. 99.16% of the stock is currently owned by institutional investors.

In related news, Director Michael D. Walter sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $107.69, for a total transaction of $323,070.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Randy A. Wood sold 4,504 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $109.06, for a total value of $491,206.24. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Several research firms have commented on LNN. TheStreet raised Lindsay from a “c+” rating to a “b” rating in a research report on Thursday, January 9th. Stifel Nicolaus boosted their target price on Lindsay from $89.00 to $100.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Zacks Investment Research raised Lindsay from a “hold” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a report on Tuesday, January 14th. Monness Crespi & Hardt boosted their target price on Lindsay from $70.00 to $82.00 and gave the company a “sell” rating in a report on Friday, January 10th. Finally, ValuEngine lowered Lindsay from a “buy” rating to a “hold” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $107.25.

NYSE:LNN opened at $109.72 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of 127.58 and a beta of 0.32. The company has a current ratio of 3.73, a quick ratio of 2.59 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $102.40 and its 200-day simple moving average is $93.75. Lindsay Co. has a 12-month low of $73.00 and a 12-month high of $111.76.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, January 9th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.27. The business had revenue of $109.40 million for the quarter, compared to analyst estimates of $110.80 million. Lindsay had a return on equity of 7.33% and a net margin of 2.11%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Research analysts forecast that Lindsay Co. will post 2.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, February 13th. Lindsay’s payout ratio is currently 85.52%.

Lindsay Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

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Institutional Ownership by Quarter for Lindsay (NYSE:LNN)

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