John G Ullman & Associates Inc. Raises Stake in Lindsay Corporation $LNN

John G Ullman & Associates Inc. grew its position in Lindsay Corporation (NYSE:LNN) by 42.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 82,300 shares of the industrial products company’s stock after purchasing an additional 24,325 shares during the quarter. Lindsay accounts for approximately 1.3% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 23rd biggest holding. John G Ullman & Associates Inc.’s holdings in Lindsay were worth $9,701,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pier Capital LLC raised its holdings in Lindsay by 34.0% in the third quarter. Pier Capital LLC now owns 71,799 shares of the industrial products company’s stock worth $10,092,000 after buying an additional 18,205 shares during the last quarter. HighTower Advisors LLC raised its holdings in Lindsay by 6.3% in the third quarter. HighTower Advisors LLC now owns 71,635 shares of the industrial products company’s stock worth $10,069,000 after buying an additional 4,273 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Lindsay by 286.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 9,888 shares of the industrial products company’s stock worth $1,390,000 after buying an additional 7,327 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Lindsay by 312.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 9,806 shares of the industrial products company’s stock worth $1,156,000 after buying an additional 7,427 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Lindsay by 14.3% in the third quarter. Public Sector Pension Investment Board now owns 42,359 shares of the industrial products company’s stock worth $5,954,000 after buying an additional 5,285 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LNN has been the subject of several recent analyst reports. Weiss Ratings raised shares of Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Stifel Nicolaus decreased their target price on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Zacks Research cut shares of Lindsay from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $113.00.

Lindsay Stock Down 1.0%

LNN opened at $105.38 on Friday. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $113.71 and a 200-day moving average price of $119.16. Lindsay Corporation has a twelve month low of $97.27 and a twelve month high of $150.96. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 19.30 and a beta of 0.73.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The company had revenue of $157.72 million for the quarter, compared to analysts’ expectations of $163.52 million. During the same period in the previous year, the firm earned $2.44 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Equities research analysts forecast that Lindsay Corporation will post 5.19 earnings per share for the current year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 15th. Lindsay’s dividend payout ratio is currently 27.11%.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral?move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.