Pier Capital LLC Purchases 18,205 Shares of Lindsay Corporation $LNN

Pier Capital LLC raised its position in shares of Lindsay Corporation (NYSE:LNN) by 34.0% during the third quarter, HoldingsChannel.com reports. The fund owned 71,799 shares of the industrial products company’s stock after buying an additional 18,205 shares during the quarter. Lindsay accounts for about 1.6% of Pier Capital LLC’s holdings, making the stock its 7th biggest position. Pier Capital LLC’s holdings in Lindsay were worth $10,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Amalgamated Bank raised its position in shares of Lindsay by 3.5% in the 3rd quarter. Amalgamated Bank now owns 3,204 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 107 shares in the last quarter. Sei Investments Co. grew its stake in Lindsay by 2.3% during the second quarter. Sei Investments Co. now owns 6,466 shares of the industrial products company’s stock worth $933,000 after purchasing an additional 145 shares during the period. Van ECK Associates Corp grew its stake in Lindsay by 11.3% during the third quarter. Van ECK Associates Corp now owns 1,739 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 177 shares during the period. Aristides Capital LLC increased its holdings in Lindsay by 10.4% in the third quarter. Aristides Capital LLC now owns 1,953 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 184 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Lindsay by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,790 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 189 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus increased their price target on Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $128.00.

Lindsay Price Performance

Shares of NYSE LNN opened at $126.02 on Friday. The firm’s 50-day moving average price is $129.12 and its 200-day moving average price is $126.87. Lindsay Corporation has a 1-year low of $106.10 and a 1-year high of $150.96. The firm has a market capitalization of $1.32 billion, a P/E ratio of 18.67 and a beta of 0.79. The company has a current ratio of 3.42, a quick ratio of 2.43 and a debt-to-equity ratio of 0.22.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, January 8th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, topping 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 company had revenue of $155.82 million for the quarter, compared to analysts’ expectations of $166.81 million. During the same quarter in the prior year, the firm earned $1.57 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.37 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 1.2%. Lindsay’s dividend payout ratio 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.