Lindsay Corporation $LNN Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of Lindsay Corporation (NYSE:LNN) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 261,527 shares of the industrial products company’s stock after selling 36,343 shares during the quarter. Royce & Associates LP owned about 2.50% of Lindsay worth $30,826,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of Lindsay by 5.6% in the 2nd quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock worth $68,342,000 after buying an additional 25,251 shares during the period. Invesco Ltd. raised its position in shares of Lindsay by 32.6% in the 3rd quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock worth $28,953,000 after buying an additional 50,671 shares during the period. First Trust Advisors LP raised its position in shares of Lindsay by 4.9% in the 3rd quarter. First Trust Advisors LP now owns 191,820 shares of the industrial products company’s stock worth $26,962,000 after buying an additional 8,985 shares during the period. Legal & General Group Plc raised its position in shares of Lindsay by 2.3% in the 4th quarter. Legal & General Group Plc now owns 160,199 shares of the industrial products company’s stock worth $18,883,000 after buying an additional 3,602 shares during the period. Finally, Lightrock Netherlands B.V. raised its position in shares of Lindsay by 5.2% in the 4th quarter. Lightrock Netherlands B.V. now owns 132,415 shares of the industrial products company’s stock worth $15,608,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Trading Up 0.1%

Shares of LNN opened at $109.34 on Tuesday. The company has a current ratio of 3.02, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.14 billion, a P/E ratio of 20.03 and a beta of 0.73. The stock’s fifty day simple moving average is $111.39 and its 200 day simple moving average is $119.10. Lindsay Corporation has a twelve month low of $97.27 and a twelve month high of $150.96.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The company had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. During the same period last year, the business earned $2.44 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research analysts forecast that Lindsay Corporation will post 5.19 earnings per share for the current year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.48 annualized dividend and a yield of 1.4%. Lindsay’s dividend payout ratio (DPR) is 27.11%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LNN shares. Stifel Nicolaus cut their target price on Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Zacks Research lowered Lindsay from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings lowered Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $113.00.

About Lindsay

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.