Jennison Associates LLC Buys Shares of 43,006 Lindsay Co. (NYSE:LNN)

Jennison Associates LLC purchased a new position in Lindsay Co. (NYSE:LNN) in the fourth quarter, Holdings Channel.com reports. The firm purchased 43,006 shares of the industrial products company’s stock, valued at approximately $5,088,000.

Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in Lindsay during the second quarter valued at approximately $436,000. Marshall Wace LLP grew its position in shares of Lindsay by 106.1% during the 2nd quarter. Marshall Wace LLP now owns 6,775 shares of the industrial products company’s stock valued at $833,000 after acquiring an additional 3,488 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Lindsay by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,278 shares of the industrial products company’s stock worth $1,263,000 after purchasing an additional 347 shares in the last quarter. SG Americas Securities LLC raised its holdings in Lindsay by 171.2% in the 3rd quarter. SG Americas Securities LLC now owns 6,159 shares of the industrial products company’s stock worth $768,000 after purchasing an additional 3,888 shares during the period. Finally, CWM LLC lifted its position in 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 in the last quarter. Institutional investors own 89.94% of the company’s stock.

Analyst Ratings Changes

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

Lindsay Trading Up 1.4 %

Shares of LNN stock opened at $132.76 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The stock has a fifty day simple moving average of $128.08 and a two-hundred day simple moving average of $124.06. The firm has a market capitalization of $1.44 billion, a PE ratio of 21.31 and a beta of 0.67. Lindsay Co. has a 52-week low of $109.27 and a 52-week high of $140.26.

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. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. During the same quarter last year, the business posted $1.36 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, February 14th. Lindsay’s dividend payout ratio (DPR) is presently 23.11%.

Lindsay Company 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.