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Lindsay Australia Ltd ASX:LAU

0 opened or increased0 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 3 managers in total.

Position history by manager 3 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

202420252026

31 Oct 2023 to today

Commentary Showing 2 of 3

DateManagerActionSummary

29 Jan 2025Centennial Asset ManagementHeldCentennial Asset Management continues to hold Lindsay Australia Ltd because of a structural change in the competitive landscape of the Australian transport sector following the collapse of a major competing trucking group post-COVID. Centennial Asset Management notes that Lindsay operates as an integrated transport, logistics, and rural supply business based in Brisbane, serving major supermarket and fresh produce chains with dry and refrigerated transport services. The fund highlights that identifying the changing industry catalyst allowed it to benefit from a significant re-rating in the stock.

Article, price recorded $0.88

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31 May 2024Contract Asset ManagementInitiatedThe fund initiated a new position in Lindsay Australia (LAU), noting the family-led business is now trading below $0.90 having been over $1.40 earlier in the financial year. The manager notes having owned this business for a long time in a related portfolio and knows the business and management team well, describing Lindsay Brothers Transport as one of Australia's leading integrated transport, logistics, and rural supply companies operating from 16 terminals.

Monthly Report, price recorded $0.91

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 3 managers first commented on LAU.

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About Lindsay Australia Ltd

Industrials, Road and Rail

Lindsay Australia (ASX:LAU) is an integrated transport, logistics and rural supply business that value-oriented fund managers have backed for its defensive earnings. In January 2025, Centennial Asset Management described Lindsay's core refrigerated and dry transport service for major supermarkets and fresh produce chains, noting the stock re-rated strongly over time. Contact Asset Management added a new position after the shares fell from above $1.40 to below $0.90, citing long familiarity with the family-led business through BKI Investment Company, and Cerutty Macro Fund bought in for earnings and a defensive profile. Lindsay Australia operates in the Industrials sector within the Road and Rail industry, and Thesis Tracker has captured 3 comments from 3 fund managers. Headquartered in Brisbane, Lindsay provides refrigerated and dry road and rail transport, logistics and rural merchandise supply across the Australian agricultural supply chain.

Market cap: $239m
Price to earnings: 12.8x
Return on equity: 12.8%
Dividend yield: 5.3%
Price to book: 1.46x
Net margin: 2.1%
52-week range: $0.53 to $0.78

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Lindsay Australia Ltd (ASX:LAU)?

Fund managers including Cerutty Macro Fund, Centennial Asset Management and Contract Asset Management have invested in Lindsay Australia Ltd (ASX:LAU).

What opportunities or catalysts do fund managers highlight for Lindsay Australia Ltd?

Managers point to Lindsay's essential role moving fresh produce for major supermarkets and growers, a family-led management team with a long track record and a valuation that Cerutty and Contact considered attractive relative to earnings, particularly after share price weakness.

What are the key risks to the Lindsay Australia Ltd investment thesis, according to fund managers?

The commentary highlights a sharp share price fall from above $1.40 to under $0.90 within a financial year, showing sensitivity to sentiment, and Cerutty notes Lindsay lacks the characteristics of a high-growth story. Exposure to agricultural seasons and transport costs remains relevant.

What does Lindsay Australia Ltd (ASX:LAU) do?

Lindsay Australia Limited (LAU) is an integrated transport, logistics, and rural supply company. The firm operates across the Australian agricultural supply chain, providing essential services to farmers through its combined logistics and rural product distribution networks.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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