USA Financial Formulas Makes New $26,000 Investment in Lindsay Corporation $LNN

USA Financial Formulas purchased a new position in shares of Lindsay Corporation (NYSE:LNN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 177 shares of the industrial products company’s stock, valued at approximately $26,000.

Several other hedge funds have also recently added to or reduced their stakes in LNN. GAMMA Investing LLC lifted its stake in shares of Lindsay by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 154 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Lindsay in the 2nd quarter valued at about $1,421,000. Integrity Alliance LLC. bought a new stake in shares of Lindsay in the 1st quarter valued at about $290,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lindsay by 82.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,626 shares of the industrial products company’s stock valued at $5,393,000 after acquiring an additional 19,233 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Lindsay by 0.7% in the 1st quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company’s stock valued at $1,365,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Insider Transactions at Lindsay

In related news, Director Robert E. Brunner sold 1,856 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the transaction, the director owned 3,274 shares in the company, valued at $465,169.92. The trade was a 36.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their target price on Lindsay from $128.00 to $136.00 and gave the company a “hold” rating in a research note on Friday, June 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.00.

Lindsay Stock Up 1.0%

Shares of NYSE:LNN opened at $141.53 on Friday. Lindsay Corporation has a 1 year low of $112.14 and a 1 year high of $150.96. The company has a market cap of $1.54 billion, a PE ratio of 20.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.64 and a quick ratio of 2.64. The stock’s 50-day moving average is $138.71 and its 200 day moving average is $135.70.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.