Jennison Associates LLC Buys New Shares in Lindsay Co. (NYSE:LNN)

Jennison Associates LLC purchased a new position in Lindsay Co. (NYSE:LNN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,006 shares of the industrial products company’s stock, valued at approximately $5,088,000. Jennison Associates LLC owned about 0.40% of Lindsay as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. US Bancorp DE boosted its holdings in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 131 shares during the last quarter. CWM LLC boosted its stake in shares of Lindsay by 16.8% during the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 92 shares during the period. Quadrature Capital Ltd grew its holdings in shares of Lindsay by 6.8% in the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 200 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Lindsay by 18.4% in the third quarter. Inspire Investing LLC now owns 3,374 shares of the industrial products company’s stock worth $421,000 after buying an additional 525 shares during the period. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Lindsay Stock Up 1.4 %

Shares of Lindsay stock opened at $132.76 on Thursday. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 12-month low of $109.27 and a 12-month high of $140.26. The company has a market cap of $1.44 billion, a P/E ratio of 21.31 and a beta of 0.67. The company’s fifty day simple moving average is $128.08 and its two-hundred day simple moving average is $124.06.

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

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. Lindsay’s dividend payout ratio is presently 23.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Stifel Nicolaus raised their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th.

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.