New York State Common Retirement Fund lessened its position in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,508 shares of the industrial products company's stock after selling 11,782 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Lindsay worth $1,836,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in LNN. GAMMA Investing LLC lifted its holdings in shares of Lindsay by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock valued at $54,000 after buying an additional 154 shares during the period. Mutual of America Capital Management LLC acquired a new position in Lindsay in the 1st quarter worth about $200,000. Tower Research Capital LLC TRC boosted its position in Lindsay by 729.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock worth $202,000 after purchasing an additional 1,503 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Lindsay during the fourth quarter worth approximately $215,000. Finally, Hsbc Holdings PLC boosted its position in Lindsay by 12.8% during the fourth quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock worth $225,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus increased their price target on Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a research report on Friday, June 27th.
Check Out Our Latest Stock Analysis on LNN
Insider Activity at Lindsay
In related news, CFO Brian L. Ketcham sold 3,999 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $149.09, for a total value of $596,210.91. Following the completion of the sale, the chief financial officer owned 9,621 shares of the company's stock, valued at approximately $1,434,394.89. This trade represents a 29.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.
Lindsay Price Performance
Shares of Lindsay stock traded up $0.20 during mid-day trading on Friday, reaching $137.69. 78,597 shares of the stock traded hands, compared to its average volume of 186,101. The business has a 50-day moving average of $139.13 and a 200 day moving average of $133.44. Lindsay Corporation has a fifty-two week low of $112.14 and a fifty-two week high of $150.96. The stock has a market capitalization of $1.50 billion, a PE ratio of 19.78 and a beta of 0.82. The company has a quick ratio of 2.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.22.
Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.36 by $0.42. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. The firm had revenue of $169.46 million during the quarter, compared to analysts' expectations of $157.87 million. During the same quarter last year, the firm earned $1.85 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. On average, analysts predict that Lindsay Corporation will post 5.82 EPS for the current year.
Lindsay Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, August 15th. This is a boost from Lindsay's previous quarterly dividend of $0.36. Lindsay's dividend payout ratio (DPR) is currently 20.69%.
About Lindsay
(
Free Report)
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.
See Also
Before you consider Lindsay, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lindsay wasn't on the list.
While Lindsay currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
