Dynamic Technology Lab Private Ltd Acquires 6,086 Shares of Lindsay Co. (NYSE:LNN)

Dynamic Technology Lab Private Ltd boosted its holdings in Lindsay Co. (NYSE:LNN) by 260.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,420 shares of the industrial products company’s stock after buying an additional 6,086 shares during the quarter. Dynamic Technology Lab Private Ltd owned approximately 0.08% of Lindsay worth $996,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LNN shares. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on Lindsay from $130.00 to $134.00 and gave the stock a “hold” rating in a report on Friday.

Lindsay Stock Down 7.4 %

Shares of NYSE LNN opened at $119.75 on Friday. The company’s 50 day moving average price is $131.04 and its 200-day moving average price is $127.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $140.27. The company has a market capitalization of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72.

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

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.20%. Lindsay’s payout ratio is currently 23.11%.

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.