Cardinal Capital Management Buys 476 Shares of Lindsay Co. (NYSE:LNN)

Cardinal Capital Management boosted its position in Lindsay Co. (NYSE:LNN) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,159 shares of the industrial products company’s stock after buying an additional 476 shares during the period. Cardinal Capital Management owned approximately 0.15% of Lindsay worth $1,912,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LNN. Royce & Associates LP grew its stake in Lindsay by 1.6% in the third quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock valued at $50,442,000 after acquiring an additional 6,253 shares during the period. KBC Group NV grew its position in Lindsay by 1.6% in the 4th quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock valued at $41,233,000 after purchasing an additional 5,382 shares during the period. Wellington Management Group LLP increased its stake in Lindsay by 35.4% during the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after purchasing an additional 36,128 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 5,007 shares during the last quarter. Finally, Lightrock Netherlands B.V. bought a new position in shares of Lindsay in the fourth quarter valued at $11,396,000. 89.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LNN has been the subject of several recent research reports. Stifel Nicolaus boosted their target price 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. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a research note on Monday.

Lindsay Stock Performance

NYSE LNN opened at $132.75 on Tuesday. The company has a fifty day moving average price of $128.12 and a 200-day moving average price of $124.53. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 21.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.26.

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

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.08%. Lindsay’s dividend payout ratio (DPR) is currently 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.