4,600 Shares in Lindsay Corporation $LNN Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Lindsay Corporation (NYSE:LNN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,600 shares of the industrial products company’s stock, valued at approximately $548,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LNN. Aster Capital Management DIFC Ltd acquired a new stake in shares of Lindsay in the fourth quarter worth approximately $25,000. Advisory Services Network LLC purchased a new position in Lindsay during the third quarter worth approximately $30,000. Copeland Capital Management LLC purchased a new position in Lindsay during the fourth quarter worth approximately $62,000. Kestra Advisory Services LLC acquired a new position in shares of Lindsay in the 4th quarter valued at $83,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Lindsay by 2,226.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company’s stock valued at $134,000 after buying an additional 913 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

LNN opened at $115.18 on Wednesday. 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 Corporation has a 52-week low of $97.27 and a 52-week high of $148.00. The company has a 50 day moving average of $113.75 and a two-hundred day moving average of $119.34. The company has a market cap of $1.17 billion, a P/E ratio of 22.11 and a beta of 0.69.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.39. The business had revenue of $160.76 million for the quarter, compared to the consensus estimate of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 EPS. On average, analysts expect that Lindsay Corporation will post 5.17 earnings per share for the current year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.3%. This is a boost from Lindsay’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, August 17th. Lindsay’s dividend payout ratio is 28.41%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LNN. Zacks Research upgraded Lindsay from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings downgraded Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Finally, Stifel Nicolaus dropped their price target on Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.00.

Lindsay Company 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.