Heartland Advisors Inc. Has $2.26 Million Stock Position in Lindsay Corporation $LNN

Heartland Advisors Inc. cut its position in Lindsay Corporation (NYSE:LNN) by 66.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 16,089 shares of the industrial products company’s stock after selling 32,102 shares during the quarter. Heartland Advisors Inc.’s holdings in Lindsay were worth $2,261,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LNN. Jennison Associates LLC raised its stake in shares of Lindsay by 107.5% in the second quarter. Jennison Associates LLC now owns 450,121 shares of the industrial products company’s stock valued at $64,930,000 after acquiring an additional 233,243 shares during the last quarter. American Century Companies Inc. grew its position in Lindsay by 185.8% during the 2nd quarter. American Century Companies Inc. now owns 131,079 shares of the industrial products company’s stock worth $18,908,000 after acquiring an additional 85,212 shares during the last quarter. Amundi increased its holdings in Lindsay by 48.8% during the 2nd quarter. Amundi now owns 210,043 shares of the industrial products company’s stock valued at $28,286,000 after purchasing an additional 68,863 shares in the last quarter. Marshall Wace LLP bought a new position in Lindsay in the 2nd quarter valued at $6,670,000. Finally, State Street Corp raised its position in Lindsay by 5.6% in the 2nd quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock valued at $68,342,000 after purchasing an additional 25,251 shares during the last quarter. 89.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

LNN has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research report on Friday, October 31st. Finally, Stifel Nicolaus increased their price target on shares of Lindsay from $122.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, January 9th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $128.00.

Lindsay Stock Down 0.5%

Shares of NYSE:LNN opened at $134.29 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.42 and a quick ratio of 2.43. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 19.89 and a beta of 0.82. The company has a 50 day moving average of $124.88 and a 200-day moving average of $127.42. Lindsay Corporation has a one year low of $106.10 and a one year high of $150.96.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, January 8th. The industrial products company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.08. The business had revenue of $155.82 million for the quarter, compared to analyst estimates of $166.81 million. Lindsay had a net margin of 11.02% and a return on equity of 14.01%. Lindsay’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 earnings per share. On average, sell-side analysts forecast that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.1%. Lindsay’s payout ratio is 21.93%.

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.