Lindsay Corporation $LNN Shares Sold by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. decreased its position in Lindsay Corporation (NYSE:LNN) by 10.0% during the 1st quarter, Holdings Channel reports. The fund owned 119,115 shares of the industrial products company’s stock after selling 13,300 shares during the quarter. Lindsay comprises about 1.4% of Lightrock Netherlands B.V.’s holdings, making the stock its 16th biggest position. Lightrock Netherlands B.V.’s holdings in Lindsay were worth $14,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LNN. Nuance Investments LLC raised its holdings in Lindsay by 293.5% during the fourth quarter. Nuance Investments LLC now owns 178,571 shares of the industrial products company’s stock worth $21,048,000 after purchasing an additional 133,190 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Lindsay in the 4th quarter valued at approximately $13,994,000. Amundi increased its position in Lindsay by 39.4% during the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after purchasing an additional 76,292 shares during the period. Invesco Ltd. increased its position in Lindsay by 32.6% during the 3rd quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock worth $28,953,000 after purchasing an additional 50,671 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Lindsay during the 2nd quarter worth approximately $6,670,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LNN has been the topic of several research analyst reports. Zacks Research upgraded shares of Lindsay from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Stifel Nicolaus reduced their price objective on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Weiss Ratings downgraded shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Lindsay currently has a consensus rating of “Hold” and an average price target of $113.00.

Lindsay Stock Up 2.0%

LNN opened at $117.92 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.04 and a current ratio of 2.93. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 22.63 and a beta of 0.69. Lindsay Corporation has a one year low of $97.27 and a one year high of $148.00. The business’s fifty day moving average is $114.16 and its two-hundred day moving average is $119.09.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.39. The business had revenue of $160.76 million during the quarter, compared to analysts’ expectations of $157.80 million. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.78 earnings per share. Analysts anticipate that Lindsay Corporation will post 5.19 EPS for the current fiscal year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.38 per share. This is an increase from Lindsay’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, August 17th. This represents a $1.52 annualized dividend and a yield of 1.3%. Lindsay’s payout ratio is 28.41%.

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.