IQ EQ FUND MANAGEMENT IRELAND Ltd Has $2.28 Million Position in Lindsay Corporation $LNN

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in shares of Lindsay Corporation (NYSE:LNN) by 4.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,777 shares of the industrial products company’s stock after selling 689 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.15% of Lindsay worth $2,276,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Lindsay during the second quarter valued at about $26,000. Banque Cantonale Vaudoise bought a new stake in Lindsay in the first quarter valued at about $31,000. State of Wyoming bought a new stake in Lindsay in the first quarter valued at about $52,000. GAMMA Investing LLC increased its stake in Lindsay by 55.8% in the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 154 shares during the period. Finally, Diversified Trust Co bought a new stake in Lindsay in the second quarter valued at about $217,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LNN. Stifel Nicolaus set a $122.00 target price on shares of Lindsay in a research note on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Lindsay in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $122.00.

Insider Buying and Selling

In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total transaction of $263,700.48. Following the sale, the director directly owned 3,274 shares of the company’s stock, valued at $465,169.92. This represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by company insiders.

Lindsay Stock Performance

NYSE LNN opened at $109.20 on Wednesday. Lindsay Corporation has a 1 year low of $108.70 and a 1 year high of $150.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.71 and a quick ratio of 2.76. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 16.11 and a beta of 0.82. The company has a fifty day moving average price of $135.77 and a 200-day moving average price of $136.27.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, October 23rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.05). The firm had revenue of $153.56 million during the quarter, compared to the consensus estimate of $156.91 million. Lindsay had a return on equity of 14.33% and a net margin of 10.95%.The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, equities research analysts predict that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 1.4%. Lindsay’s dividend payout ratio is 21.83%.

About Lindsay

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.