Lindsay Corporation $LNN Shares Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd increased its holdings in Lindsay Corporation (NYSE:LNN) by 1,488.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,017 shares of the industrial products company’s stock after acquiring an additional 30,001 shares during the quarter. WINTON GROUP Ltd owned approximately 0.31% of Lindsay worth $3,774,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Pier Capital LLC increased its stake in Lindsay by 34.0% in the 3rd quarter. Pier Capital LLC now owns 71,799 shares of the industrial products company’s stock valued at $10,092,000 after buying an additional 18,205 shares during the period. HighTower Advisors LLC increased its stake in Lindsay by 6.3% in the 3rd quarter. HighTower Advisors LLC now owns 71,635 shares of the industrial products company’s stock valued at $10,069,000 after buying an additional 4,273 shares during the period. Assenagon Asset Management S.A. increased its stake in Lindsay by 312.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 9,806 shares of the industrial products company’s stock valued at $1,156,000 after buying an additional 7,427 shares during the period. Public Sector Pension Investment Board increased its stake in Lindsay by 14.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 42,359 shares of the industrial products company’s stock valued at $5,954,000 after buying an additional 5,285 shares during the period. Finally, Mangrove Partners IM LLC acquired a new position in Lindsay in the 3rd quarter valued at $845,000. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Stock Performance

NYSE:LNN opened at $112.49 on Monday. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. Lindsay Corporation has a fifty-two week low of $97.27 and a fifty-two week high of $150.96. The stock has a market cap of $1.17 billion, a PE ratio of 20.60 and a beta of 0.72. The firm’s fifty day simple moving average is $110.17 and its 200-day simple moving average is $119.13.

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). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Lindsay’s quarterly revenue was down 15.7% on a year-over-year basis. Analysts expect that Lindsay Corporation will post 5.19 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.37 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. Lindsay’s payout ratio is currently 27.11%.

Wall Street Analyst Weigh In

LNN has been the topic of several recent research reports. Weiss Ratings cut shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Zacks Research cut shares of Lindsay from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lindsay has a consensus rating of “Reduce” and a consensus 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.