Graham Capital Management L.P. Acquires New Position in Lindsay Co. (NYSE:LNN)

Graham Capital Management L.P. bought a new position in shares of Lindsay Co. (NYSE:LNN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,794 shares of the industrial products company’s stock, valued at approximately $331,000.

A number of other hedge funds also recently added to or reduced their stakes in LNN. AlphaQuest LLC purchased a new stake in shares of Lindsay during the 4th quarter worth approximately $32,000. Global Retirement Partners LLC boosted its position in 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 purchasing an additional 86 shares in the last quarter. Van ECK Associates Corp grew its holdings in Lindsay by 73.1% in the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Lindsay by 729.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock valued at $202,000 after buying an additional 1,503 shares in the last quarter. Finally, Gitterman Wealth Management LLC raised its stake in shares of Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock worth $207,000 after buying an additional 101 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LNN. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Stifel Nicolaus dropped their price objective on shares of Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th.

Lindsay Stock Up 0.4%

Shares of NYSE:LNN opened at $141.97 on Friday. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.54 billion, a P/E ratio of 22.79 and a beta of 0.81. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $142.61. The stock’s fifty day simple moving average is $128.75 and its 200-day simple moving average is $128.75.

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 analysts’ consensus estimates of $1.89 by $0.55. The company had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. As a group, equities research analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.36 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.01%. Lindsay’s payout ratio is currently 20.48%.

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.