AEGON ASSET MANAGEMENT UK Plc Takes $1.76 Million Position in Lindsay Corporation $LNN

AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Lindsay Corporation (NYSE:LNN) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 14,800 shares of the industrial products company’s stock, valued at approximately $1,758,000.

Several other large investors have also added to or reduced their stakes in LNN. AQR Capital Management LLC grew its position in shares of Lindsay by 13.9% during the 1st quarter. AQR Capital Management LLC now owns 8,043 shares of the industrial products company’s stock worth $1,018,000 after buying an additional 984 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Lindsay by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,455 shares of the industrial products company’s stock valued at $817,000 after buying an additional 289 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Lindsay by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company’s stock valued at $6,144,000 after buying an additional 5,749 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Lindsay by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,056 shares of the industrial products company’s stock valued at $4,941,000 after buying an additional 2,811 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Lindsay by 134.4% in the 1st quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company’s stock valued at $4,899,000 after buying an additional 22,204 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Zacks Research upgraded Lindsay from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings downgraded Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Finally, Stifel Nicolaus decreased their price objective on Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a report on Monday, April 6th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $113.00.

Lindsay Trading Down 0.1%

LNN opened at $118.94 on Monday. Lindsay Corporation has a fifty-two week low of $97.27 and a fifty-two week high of $150.96. The firm has a market capitalization of $1.24 billion, a PE ratio of 21.78 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15. The company’s 50-day moving average is $111.02 and its 200 day moving average is $119.28.

Lindsay (NYSE:LNN) last released 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). The company had revenue of $157.72 million for 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%. Lindsay’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 EPS. As a group, research analysts predict that Lindsay Corporation will post 5.16 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business 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 1.2%. The ex-dividend date was Friday, May 15th. Lindsay’s dividend payout ratio (DPR) is currently 27.11%.

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.