Lindsay Corporation $LNN Stake Boosted by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its stake in shares of Lindsay Corporation (NYSE:LNN) by 103.4% during the second quarter, Holdings Channel reports. The firm owned 17,287 shares of the industrial products company’s stock after buying an additional 8,787 shares during the period. Squarepoint Ops LLC’s holdings in Lindsay were worth $2,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in LNN. BlackRock Inc. bought a new position in Lindsay during the 2nd quarter worth $219,361,000. California State Teachers Retirement System grew its position in shares of Lindsay by 14,531.7% during the second quarter. California State Teachers Retirement System now owns 1,456,878 shares of the industrial products company’s stock worth $180,361,000 after acquiring an additional 1,446,921 shares during the last quarter. Amundi grew its position in shares of Lindsay by 64.4% during the second quarter. Amundi now owns 423,312 shares of the industrial products company’s stock worth $52,376,000 after acquiring an additional 165,745 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lindsay by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 352,344 shares of the industrial products company’s stock worth $41,953,000 after acquiring an additional 6,748 shares during the period. Finally, KBC Group NV increased its holdings in shares of Lindsay by 15.0% in the 1st quarter. KBC Group NV now owns 268,896 shares of the industrial products company’s stock worth $32,017,000 after acquiring an additional 35,061 shares during the period. Institutional investors own 89.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LNN shares. Zacks Research downgraded shares of Lindsay from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 1st. Weiss Ratings upgraded shares of Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $113.00.

Lindsay Stock Up 1.8%

Lindsay stock opened at $118.43 on Tuesday. Lindsay Corporation has a 52 week low of $97.27 and a 52 week high of $148.00. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 22.73 and a beta of 0.70. The company’s 50-day moving average price is $115.53 and its two-hundred day moving average price is $115.62. The company has a current ratio of 2.93, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.39. The business had revenue of $160.76 million during the quarter, compared to analysts’ expectations of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. On average, analysts expect that Lindsay Corporation will post 5.19 EPS for the current fiscal year.

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.3%. This is a positive change from Lindsay’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, August 17th. Lindsay’s payout ratio is currently 29.17%.

Lindsay Profile

Lindsay Corporation (NYSE: LNN) is a provider of irrigation and infrastructure products and services. Its irrigation business develops and manufactures center-pivot and lateral-move irrigation systems under the Zimmatic brand, along with irrigation automation, monitoring and management technologies designed to help growers apply water more efficiently. The company also offers related agricultural products and services, including FieldNET remote irrigation management and control solutions.

Through its infrastructure business, Lindsay supplies road-safety and transportation products, including the Road Zipper System, which uses movable barriers to reconfigure highway lanes, as well as highway guardrail, crash-cushion and other roadway safety systems.