John G Ullman & Associates Inc. Acquires 24,325 Shares of Lindsay Corporation $LNN

John G Ullman & Associates Inc. lifted its holdings in shares of Lindsay Corporation (NYSE:LNN) by 42.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 82,300 shares of the industrial products company’s stock after purchasing an additional 24,325 shares during the period. Lindsay comprises about 1.3% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 23rd biggest position. John G Ullman & Associates Inc. owned 0.79% of Lindsay worth $9,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in 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 acquiring an additional 50,671 shares during the last quarter. Marshall Wace LLP bought a new stake in Lindsay in the 2nd quarter worth $6,670,000. UBS Group AG grew its holdings in Lindsay by 43.4% in the 4th quarter. UBS Group AG now owns 126,745 shares of the industrial products company’s stock worth $14,939,000 after acquiring an additional 38,386 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Lindsay by 93.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 63,825 shares of the industrial products company’s stock worth $8,971,000 after acquiring an additional 30,854 shares during the last quarter. Finally, State Street Corp grew its holdings in 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 acquiring an additional 25,251 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of Lindsay from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Stifel Nicolaus cut their price target on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Finally, Weiss Ratings raised shares of Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $113.00.

Lindsay Trading Down 1.0%

Shares of NYSE LNN opened at $105.38 on Friday. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $150.96. The stock has a market cap of $1.10 billion, a P/E ratio of 19.30 and a beta of 0.73. The firm has a 50-day moving average of $113.71 and a 200 day moving average of $119.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The business had revenue of $157.72 million for 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 was down 15.7% on a year-over-year basis. As a group, sell-side analysts expect that Lindsay Corporation will post 5.19 EPS for the current fiscal year.

Lindsay Announces Dividend

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

Lindsay Profile

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.