Lindsay Corporation $LNN Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in Lindsay Corporation (NYSE:LNN) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,228,314 shares of the industrial products company’s stock after selling 30,380 shares during the period. Vanguard Group Inc. owned 11.75% of Lindsay worth $144,781,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pier Capital LLC boosted its position in Lindsay by 34.0% in the 3rd quarter. Pier Capital LLC now owns 71,799 shares of the industrial products company’s stock valued at $10,092,000 after buying an additional 18,205 shares during the last quarter. SG Americas Securities LLC boosted its position in Lindsay by 505.3% in the 3rd quarter. SG Americas Securities LLC now owns 16,518 shares of the industrial products company’s stock valued at $2,322,000 after buying an additional 13,789 shares during the last quarter. HighTower Advisors LLC boosted its position in Lindsay by 6.3% in the 3rd quarter. HighTower Advisors LLC now owns 71,635 shares of the industrial products company’s stock valued at $10,069,000 after buying an additional 4,273 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Lindsay by 286.1% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 9,888 shares of the industrial products company’s stock valued at $1,390,000 after buying an additional 7,327 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Lindsay by 312.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 9,806 shares of the industrial products company’s stock valued at $1,156,000 after buying an additional 7,427 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Down 0.2%

Lindsay stock opened at $109.11 on Tuesday. The company has a market capitalization of $1.13 billion, a P/E ratio of 19.98 and a beta of 0.73. The firm’s fifty day simple moving average is $115.98 and its 200-day simple moving average is $119.52. The company has a current ratio of 3.02, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23. Lindsay Corporation has a 1-year low of $97.27 and a 1-year high of $150.96.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.45). The firm had revenue of $157.72 million during the quarter, compared to the consensus estimate of $163.52 million. Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business’s revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 EPS. Sell-side analysts forecast that Lindsay Corporation will post 5.19 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, May 15th. Lindsay’s payout ratio is 27.11%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LNN shares. Zacks Research lowered shares of Lindsay from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Stifel Nicolaus decreased their price objective on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Weiss Ratings upgraded shares of Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $113.00.

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.