Nuance Investments LLC Lowers Position in Lindsay Corporation $LNN

Nuance Investments LLC trimmed its position in shares of Lindsay Corporation (NYSE:LNN) by 21.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,214 shares of the industrial products company’s stock after selling 14,513 shares during the quarter. Nuance Investments LLC’s holdings in Lindsay were worth $7,532,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in Lindsay during the second quarter valued at $26,000. Banque Cantonale Vaudoise purchased a new stake in shares of Lindsay during the 1st quarter worth about $31,000. State of Wyoming acquired a new stake in shares of Lindsay during the 1st quarter valued at about $52,000. Mutual of America Capital Management LLC purchased a new position in shares of Lindsay in the 1st quarter valued at about $200,000. Finally, Diversified Trust Co acquired a new position in Lindsay in the 2nd quarter worth about $217,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Stock Performance

Shares of NYSE:LNN opened at $110.76 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.71 and a quick ratio of 2.76. The business’s 50 day moving average price is $131.36 and its 200-day moving average price is $135.50. The firm has a market capitalization of $1.20 billion, a PE ratio of 16.34 and a beta of 0.84. Lindsay Corporation has a 1 year low of $108.70 and a 1 year high of $150.96.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.05). Lindsay had a net margin of 10.95% and a return on equity of 14.33%. The firm had revenue of $153.56 million during the quarter, compared to analyst estimates of $156.91 million. During the same period in the prior year, the company posted $1.17 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Lindsay’s dividend payout ratio (DPR) is currently 21.83%.

Insiders Place Their Bets

In related news, Director Robert E. Brunner sold 1,856 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director owned 3,274 shares of the company’s stock, valued at approximately $465,169.92. This represents a 36.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LNN. Wall Street Zen lowered Lindsay from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Stifel Nicolaus set a $122.00 price target on shares of Lindsay in a research note on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lindsay in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Lindsay presently has an average rating of “Hold” and an average price target of $122.00.

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.