Cresset Asset Management LLC Has $925,000 Position in Lindsay Corporation $LNN

Cresset Asset Management LLC lowered its holdings in Lindsay Corporation (NYSE:LNN) by 60.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,413 shares of the industrial products company’s stock after selling 9,810 shares during the quarter. Cresset Asset Management LLC’s holdings in Lindsay were worth $925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new stake in Lindsay during the second quarter valued at approximately $26,000. State of Wyoming bought a new stake in Lindsay in the first quarter valued at $52,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Lindsay during the second quarter worth $159,000. Mutual of America Capital Management LLC bought a new position in shares of Lindsay during the first quarter valued at $200,000. Finally, Diversified Trust Co acquired a new stake in shares of Lindsay in the 2nd quarter valued at $217,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

Shares of LNN stock opened at $122.07 on Thursday. Lindsay Corporation has a 1 year low of $106.10 and a 1 year high of $150.96. The company has a current ratio of 3.71, a quick ratio of 2.76 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $119.90 and its 200-day moving average is $132.24. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 18.00 and a beta of 0.83.

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

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 14th. Lindsay’s payout ratio is currently 21.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LNN shares. Wall Street Zen cut shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Stifel Nicolaus set a $122.00 price objective on shares of Lindsay in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lindsay in a report on Friday, October 31st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $122.00.

About Lindsay

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.