Pacer Advisors Inc. Has $3.50 Million Stake in Lindsay Corporation $LNN

Pacer Advisors Inc. boosted its stake in Lindsay Corporation (NYSE:LNN) by 2,694.6% during the 4th quarter, HoldingsChannel reports. The fund owned 29,679 shares of the industrial products company’s stock after acquiring an additional 28,617 shares during the quarter. Pacer Advisors Inc.’s holdings in Lindsay were worth $3,498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LNN. State Street Corp increased its holdings in Lindsay by 5.6% during the 2nd quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock worth $68,342,000 after purchasing an additional 25,251 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Lindsay by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 345,596 shares of the industrial products company’s stock valued at $40,736,000 after purchasing an additional 8,567 shares in the last quarter. Amundi boosted its position in shares of Lindsay by 39.4% during the fourth quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after buying an additional 76,292 shares during the period. Invesco Ltd. grew its holdings in shares of Lindsay by 10.1% during the fourth quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company’s stock worth $26,732,000 after buying an additional 20,811 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Lindsay by 2.8% in the 4th quarter. First Trust Advisors LP now owns 197,123 shares of the industrial products company’s stock valued at $23,235,000 after buying an additional 5,303 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Stock Up 0.2%

NYSE:LNN opened at $116.91 on Wednesday. Lindsay Corporation has a twelve month low of $97.27 and a twelve month high of $150.96. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 21.41 and a beta of 0.72. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $111.24 and its two-hundred day moving average price is $119.27.

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). The company had revenue of $157.72 million during the quarter, compared to analyst estimates of $163.52 million. Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. Equities research analysts expect that Lindsay Corporation will post 5.16 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 15th. Lindsay’s dividend payout ratio is presently 27.11%.

Analyst Ratings Changes

A number of research firms have weighed in on LNN. Weiss Ratings downgraded Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Stifel Nicolaus cut their price objective on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Zacks Research upgraded shares of Lindsay from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Lindsay currently has an average rating of “Hold” and an average price target 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.