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

Pacer Advisors Inc. raised its holdings in Lindsay Corporation (NYSE:LNN) by 2,694.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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. owned about 0.28% of Lindsay worth $3,498,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Pier Capital LLC boosted its position in shares of Lindsay by 34.0% in the 3rd quarter. Pier Capital LLC now owns 71,799 shares of the industrial products company’s stock worth $10,092,000 after purchasing an additional 18,205 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Lindsay by 312.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 9,806 shares of the industrial products company’s stock valued at $1,156,000 after purchasing an additional 7,427 shares during the last quarter. WINTON GROUP Ltd increased its holdings in Lindsay by 1,488.1% in the fourth quarter. WINTON GROUP Ltd now owns 32,017 shares of the industrial products company’s stock valued at $3,774,000 after purchasing an additional 30,001 shares during the last quarter. John G Ullman & Associates Inc. lifted its stake in Lindsay by 42.0% in the fourth quarter. John G Ullman & Associates Inc. now owns 82,300 shares of the industrial products company’s stock valued at $9,701,000 after buying an additional 24,325 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Lindsay by 12.1% during the fourth quarter. ProShare Advisors LLC now owns 51,927 shares of the industrial products company’s stock worth $6,121,000 after buying an additional 5,615 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Stock Performance

Shares of Lindsay stock opened at $116.91 on Wednesday. The stock’s fifty day simple moving average is $111.24 and its 200 day simple moving average is $119.27. 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 company has a market capitalization of $1.22 billion, a PE ratio of 21.41 and a beta of 0.72. Lindsay Corporation has a 12 month low of $97.27 and a 12 month high of $150.96.

Lindsay (NYSE:LNN) last posted its 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 business 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 firm’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. On average, research analysts predict that Lindsay Corporation will post 5.16 EPS for the current year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a 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

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

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.