Lindsay Co. (LNN) Stake Raised by Cardinal Capital Management

Cardinal Capital Management increased its stake in Lindsay Co. (NYSE:LNN) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,740 shares of the industrial products company’s stock after buying an additional 172 shares during the period. Cardinal Capital Management owned 0.07% of Lindsay worth $749,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Lindsay by 6.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,424 shares of the industrial products company’s stock worth $329,000 after buying an additional 193 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Lindsay by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 6,151 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 239 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of Lindsay by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 7,039 shares of the industrial products company’s stock valued at $678,000 after acquiring an additional 271 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Lindsay by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 97,205 shares of the industrial products company’s stock valued at $9,356,000 after acquiring an additional 307 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in Lindsay in the 4th quarter valued at about $87,000. 92.93% of the stock is currently owned by institutional investors.

NYSE:LNN traded down $0.77 during trading hours on Thursday, hitting $84.09. 330,111 shares of the company’s stock traded hands, compared to its average volume of 110,256. The firm has a market capitalization of $918.03 million, a price-to-earnings ratio of 28.32 and a beta of 0.33. Lindsay Co. has a twelve month low of $82.41 and a twelve month high of $109.50. The company has a current ratio of 3.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.43.

Lindsay (NYSE:LNN) last issued its earnings results on Tuesday, April 9th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.60). Lindsay had a return on equity of 9.72% and a net margin of 2.55%. The company had revenue of $109.20 million during the quarter, compared to analyst estimates of $115.43 million. During the same period in the previous year, the company posted $0.56 earnings per share. The company’s quarterly revenue was down 16.2% on a year-over-year basis. Equities analysts forecast that Lindsay Co. will post 2.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s payout ratio is 42.18%.

A number of analysts have issued reports on LNN shares. ValuEngine upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research raised Lindsay from a “strong sell” rating to a “hold” rating and set a $108.00 price objective for the company in a report on Tuesday, December 18th. Boenning Scattergood reissued a “buy” rating and issued a $132.00 price objective on shares of Lindsay in a report on Tuesday, January 8th. Finally, TheStreet downgraded Lindsay from a “b” rating to a “c+” rating in a report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $102.60.

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Lindsay Company 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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