Lindsay Corporation $LNN Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in Lindsay Corporation (NYSE:LNN) by 505.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,518 shares of the industrial products company’s stock after buying an additional 13,789 shares during the period. SG Americas Securities LLC’s holdings in Lindsay were worth $2,322,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LNN. Wall Street Zen downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lindsay in a research report on Friday, October 31st. Finally, Stifel Nicolaus boosted their price target on Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a research note on Friday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Lindsay currently has an average rating of “Hold” and a consensus price target of $128.00.

Lindsay Price Performance

Shares of LNN stock opened at $123.30 on Wednesday. The firm has a fifty day moving average of $117.41 and a two-hundred day moving average of $129.38. The firm has a market cap of $1.29 billion, a P/E ratio of 18.27 and a beta of 0.80. Lindsay Corporation has a 1-year low of $106.10 and a 1-year high of $150.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.42 and a quick ratio of 2.43.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, January 8th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. Lindsay had a net margin of 11.02% and a return on equity of 14.01%. The business had revenue of $155.82 million for the quarter, compared to analyst estimates of $166.81 million. During the same quarter in the prior year, the business posted $1.57 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.37 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.48 annualized dividend and a dividend yield of 1.2%. Lindsay’s dividend payout ratio (DPR) is presently 21.93%.

About Lindsay

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.