IQ EQ FUND MANAGEMENT IRELAND Ltd Has $2.78 Million Stake in Lindsay Co. (NYSE:LNN)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in Lindsay Co. (NYSE:LNN) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,518 shares of the industrial products company’s stock after selling 3,326 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Lindsay were worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNN. Atom Investors LP bought a new position in shares of Lindsay in the third quarter valued at about $731,000. Barclays PLC lifted its position in Lindsay by 248.8% during the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 13,986 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lindsay by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock worth $16,571,000 after acquiring an additional 5,007 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Lindsay in the fourth quarter valued at approximately $679,000. Finally, KBC Group NV increased its stake in shares of Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock worth $41,233,000 after purchasing an additional 5,382 shares during the period. 89.94% of the stock is owned by institutional investors.

Lindsay Trading Up 0.6 %

Shares of LNN stock opened at $130.72 on Thursday. The stock has a 50 day simple moving average of $132.13 and a 200 day simple moving average of $126.58. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.27. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.42 billion, a P/E ratio of 20.98 and a beta of 0.70.

Lindsay (NYSE:LNN) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. Lindsay’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 EPS. On average, research analysts predict that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, February 14th. Lindsay’s dividend payout ratio is currently 23.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Stifel Nicolaus raised their price target on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research report 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.