Lindsay Corporation $LNN Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank cut its stake in Lindsay by 95.1% in Q4, selling 50,207 shares and leaving 2,600 shares valued at about $306,000.
• Lindsay missed Q1 expectations, reporting $1.15 EPS vs. $1.60 expected and $157.7M revenue (vs. $163.5M), with revenue down 15.7% year-over-year and analysts trimming ratings and price targets (average target $113, consensus "Reduce").
• The company declared a quarterly dividend of $0.37 per share (annualized $1.48, ~1.3% yield), with an ex-dividend date of May 15 and payment on May 29.

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 95.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,600 shares of the industrial products company's stock after selling 50,207 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Lindsay were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LNN. AQR Capital Management LLC grew its position in shares of Lindsay by 13.9% during the 1st quarter. AQR Capital Management LLC now owns 8,043 shares of the industrial products company's stock valued at $1,018,000 after acquiring an additional 984 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Lindsay by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,455 shares of the industrial products company's stock valued at $817,000 after buying an additional 289 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Lindsay by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company's stock valued at $6,144,000 after buying an additional 5,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Lindsay by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,056 shares of the industrial products company's stock valued at $4,941,000 after buying an additional 2,811 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Lindsay by 134.4% in the 1st quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company's stock valued at $4,899,000 after buying an additional 22,204 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Trading Down 1.0%

Shares of Lindsay stock opened at $110.55 on Tuesday. The company has a current ratio of 3.02, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23. The firm's 50-day moving average price is $118.40 and its 200 day moving average price is $120.20. Lindsay Corporation has a twelve month low of $97.27 and a twelve month high of $150.96. The firm has a market capitalization of $1.15 billion, a PE ratio of 20.25 and a beta of 0.73.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share for the quarter, missing analysts' consensus estimates of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business had revenue of $157.72 million during the quarter, compared to analysts' expectations of $163.52 million. During the same period last year, the business earned $2.44 earnings per share. The company's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, sell-side analysts predict that Lindsay Corporation will post 5.19 EPS for the current fiscal 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 paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, May 15th. Lindsay's dividend payout ratio (DPR) is 27.11%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LNN shares. Zacks Research lowered shares of Lindsay from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 7th. Stifel Nicolaus decreased their price target 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. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and an average price target of $113.00.

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.

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