Horizon Investments LLC Makes New Investment in Lindsay Corporation $LNN

Horizon Investments LLC acquired a new position in shares of Lindsay Corporation (NYSE:LNN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 5,224 shares of the industrial products company’s stock, valued at approximately $616,000.

Several other hedge funds also recently made changes to their positions in the company. Amalgamated Bank grew its holdings in shares of Lindsay by 3.5% during the third quarter. Amalgamated Bank now owns 3,204 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 107 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Lindsay by 2.3% during the second quarter. Sei Investments Co. now owns 6,466 shares of the industrial products company’s stock worth $933,000 after purchasing an additional 145 shares during the last quarter. Chatham Capital Group Inc. grew its holdings in shares of Lindsay by 1.4% during the fourth quarter. Chatham Capital Group Inc. now owns 12,440 shares of the industrial products company’s stock worth $1,466,000 after purchasing an additional 170 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Lindsay by 11.3% during the third quarter. Van ECK Associates Corp now owns 1,739 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 177 shares during the last quarter. Finally, Aristides Capital LLC grew its holdings in shares of Lindsay by 10.4% during the third quarter. Aristides Capital LLC now owns 1,953 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lindsay Stock Performance

Shares of LNN opened at $109.60 on Friday. The stock has a market capitalization of $1.14 billion, a P/E ratio of 20.07 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 3.02. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $150.96. The company’s fifty day moving average is $116.97 and its two-hundred day moving average is $119.79.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The firm had revenue of $157.72 million during the quarter, compared to analyst estimates of $163.52 million. During the same quarter last year, the business posted $2.44 EPS. The firm’s revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts predict that Lindsay Corporation will post 5.19 earnings per share for the current year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $0.37 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. Lindsay’s dividend payout ratio (DPR) is presently 27.11%.

Lindsay 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.