SG Americas Securities LLC acquired a new stake in shares of Lindsay Corporation (NYSE:LNN) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,508 shares of the industrial products company’s stock, valued at approximately $133,000.
Several other large investors have also recently added to or reduced their stakes in LNN. State of Alaska Department of Revenue boosted its position in shares of Lindsay Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,170 shares of the industrial products company’s stock valued at $103,000 after buying an additional 20 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Lindsay Corporation by 8.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,351 shares of the industrial products company’s stock valued at $101,000 after buying an additional 100 shares during the last quarter. US Bancorp DE boosted its position in shares of Lindsay Corporation by 100.0% in the first quarter. US Bancorp DE now owns 1,800 shares of the industrial products company’s stock valued at $159,000 after buying an additional 900 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Lindsay Corporation during the first quarter valued at about $211,000. Finally, Mason Street Advisors LLC boosted its position in shares of Lindsay Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,486 shares of the industrial products company’s stock valued at $219,000 after buying an additional 163 shares during the last quarter.
Shares of Lindsay Corporation (NYSE:LNN) traded up 1.10% during mid-day trading on Tuesday, hitting $90.36. The company’s stock had a trading volume of 53,324 shares. Lindsay Corporation has a 52-week low of $69.11 and a 52-week high of $95.04. The company has a market cap of $965.86 million, a price-to-earnings ratio of 39.15 and a beta of 0.43. The stock’s 50 day moving average price is $89.60 and its 200 day moving average price is $84.16.
Lindsay Corporation (NYSE:LNN) last released its quarterly earnings data on Thursday, June 29th. The industrial products company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. The company had revenue of $151.50 million during the quarter, compared to the consensus estimate of $145.30 million. Lindsay Corporation had a net margin of 4.75% and a return on equity of 9.69%. Lindsay Corporation’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. Equities analysts forecast that Lindsay Corporation will post $2.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be issued a $0.30 dividend. This is an increase from Lindsay Corporation’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. Lindsay Corporation’s dividend payout ratio is presently 50.43%.
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Several research analysts recently issued reports on the company. Zacks Investment Research raised Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Monday, July 31st. Piper Jaffray Companies set a $80.00 price objective on Lindsay Corporation and gave the stock a “hold” rating in a research report on Saturday. BidaskClub cut Lindsay Corporation from a “buy” rating to a “hold” rating in a research report on Saturday. Sidoti reissued a “buy” rating and issued a $107.00 price objective (up previously from $100.00) on shares of Lindsay Corporation in a research report on Friday, July 7th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, June 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Lindsay Corporation has a consensus rating of “Hold” and an average price target of $91.50.
In other news, insider David B. Downing sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $89.28, for a total transaction of $624,960.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rick Parod sold 77,387 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $91.47, for a total transaction of $7,078,588.89. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.
Lindsay Corporation Company Profile
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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