Candriam S.C.A. trimmed its position in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 80.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,680 shares of the industrial products company's stock after selling 14,832 shares during the quarter. Candriam S.C.A.'s holdings in Lindsay were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in LNN. Aster Capital Management DIFC Ltd bought a new position in Lindsay in the fourth quarter worth approximately $25,000. Advisory Services Network LLC purchased a new stake in Lindsay in the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC bought a new stake in Lindsay during the 4th quarter worth approximately $62,000. Kestra Advisory Services LLC bought a new stake in Lindsay during the 4th quarter worth approximately $83,000. Finally, Russell Investments Group Ltd. lifted its holdings in Lindsay by 2,226.8% during the third quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 913 shares in the last quarter. Institutional investors own 89.94% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. 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 lowered their target price on shares of Lindsay from $128.00 to $113.00 and set a "hold" rating on the stock in a research note on Monday, April 6th. Finally, Weiss Ratings cut shares of Lindsay from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $113.00.
Get Our Latest Analysis on Lindsay
Lindsay Stock Up 0.7%
NYSE LNN opened at $116.22 on Thursday. Lindsay Corporation has a 12 month low of $97.27 and a 12 month high of $148.00. The company has a current ratio of 2.93, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.18 billion, a PE ratio of 22.31 and a beta of 0.69. The stock's 50 day moving average is $114.05 and its 200 day moving average is $119.09.
Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings data on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.39. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The business had revenue of $160.76 million during the quarter, compared to analyst estimates of $157.80 million. During the same period last year, the firm posted $1.78 EPS. The company's revenue was down 5.2% on a year-over-year basis. Research analysts predict that Lindsay Corporation will post 5.19 EPS for the current fiscal year.
Lindsay Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, August 17th. This is a positive change from Lindsay's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.3%. Lindsay's dividend payout ratio is 28.41%.
About Lindsay
(
Free Report)
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.
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