Squarepoint Ops LLC Raises Stake in Lindsay Corporation $LNN

Squarepoint Ops LLC lifted its stake in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 103.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,287 shares of the industrial products company's stock after purchasing an additional 8,787 shares during the quarter. Squarepoint Ops LLC owned about 0.17% of Lindsay worth $2,140,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LNN. PNC Financial Services Group Inc. boosted its holdings in shares of Lindsay by 4.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,046 shares of the industrial products company's stock valued at $363,000 after purchasing an additional 120 shares during the last quarter. Diversified Trust Co increased its position in Lindsay by 8.8% during the 1st quarter. Diversified Trust Co now owns 2,165 shares of the industrial products company's stock worth $258,000 after purchasing an additional 175 shares in the last quarter. Van ECK Associates Corp raised its holdings in Lindsay by 9.0% in the second quarter. Van ECK Associates Corp now owns 2,211 shares of the industrial products company's stock valued at $274,000 after buying an additional 183 shares during the period. Public Employees Retirement System of Ohio lifted its position in Lindsay by 2.1% during the first quarter. Public Employees Retirement System of Ohio now owns 11,600 shares of the industrial products company's stock valued at $1,381,000 after buying an additional 243 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Lindsay by 1,295.8% during the first quarter. Parallel Advisors LLC now owns 335 shares of the industrial products company's stock worth $40,000 after buying an additional 311 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Price Performance

LNN stock opened at $118.43 on Tuesday. The stock's 50 day moving average is $115.53 and its two-hundred day moving average is $115.62. Lindsay Corporation has a 52-week low of $97.27 and a 52-week high of $148.00. The company has a market capitalization of $1.20 billion, a PE ratio of 22.73 and a beta of 0.70. The company has a quick ratio of 2.04, a current ratio of 2.93 and a debt-to-equity ratio of 0.23.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.14 by $0.39. The company 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 was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. Analysts predict that Lindsay Corporation will post 5.19 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a $0.38 dividend. This is a boost from Lindsay's previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 17th. Lindsay's dividend payout ratio is presently 29.17%.

Analyst Upgrades and Downgrades

LNN has been the topic of several analyst reports. Weiss Ratings upgraded Lindsay from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 2nd. Zacks Research cut Lindsay from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 1st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lindsay presently has an average rating of "Reduce" and an average price target of $113.00.

About Lindsay

Lindsay Corporation NYSE: LNN is a provider of irrigation and infrastructure products and services. Its irrigation business develops and manufactures center-pivot and lateral-move irrigation systems under the Zimmatic brand, along with irrigation automation, monitoring and management technologies designed to help growers apply water more efficiently. The company also offers related agricultural products and services, including FieldNET remote irrigation management and control solutions.

Through its infrastructure business, Lindsay supplies road-safety and transportation products, including the Road Zipper System, which uses movable barriers to reconfigure highway lanes, as well as highway guardrail, crash-cushion and other roadway safety systems.

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