Louisiana State Employees Retirement System Takes $548,000 Position in Lindsay Corporation $LNN

Louisiana State Employees Retirement System acquired a new stake in Lindsay Corporation (NYSE:LNN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,600 shares of the industrial products company’s stock, valued at approximately $548,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in shares of Lindsay by 7.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,581 shares of the industrial products company’s stock valued at $1,260,000 after acquiring an additional 775 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Lindsay in the 1st quarter valued at approximately $1,758,000. Diversified Trust Co increased its stake in Lindsay by 8.8% in the 1st quarter. Diversified Trust Co now owns 2,165 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 175 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Lindsay during the fourth quarter worth $778,000. Finally, Corient Private Wealth LLC raised its holdings in Lindsay by 106.8% during the fourth quarter. Corient Private Wealth LLC now owns 8,854 shares of the industrial products company’s stock worth $1,044,000 after purchasing an additional 4,573 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Lindsay Price Performance

LNN stock opened at $115.18 on Wednesday. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $148.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.04 and a current ratio of 2.93. The stock’s 50 day moving average price is $113.75 and its 200 day moving average price is $119.34. The firm has a market cap of $1.17 billion, a P/E ratio of 22.11 and a beta of 0.69.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.39. The company had revenue of $160.76 million for the quarter, compared to analyst estimates of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 EPS. On average, sell-side analysts expect that Lindsay Corporation will post 5.17 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.3%. This is an increase from Lindsay’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, August 17th. Lindsay’s dividend payout ratio (DPR) is 28.41%.

Lindsay Company 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.