Heartland Advisors Inc. Has $2.26 Million Stock Position in Lindsay Corporation $LNN

Heartland Advisors Inc. lessened its position in Lindsay Corporation (NYSE:LNN) by 66.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,089 shares of the industrial products company’s stock after selling 32,102 shares during the quarter. Heartland Advisors Inc. owned about 0.15% of Lindsay worth $2,261,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LNN. AQR Capital Management LLC increased its stake in shares of Lindsay by 13.9% in the first quarter. AQR Capital Management LLC now owns 8,043 shares of the industrial products company’s stock worth $1,018,000 after purchasing an additional 984 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 last quarter. Goldman Sachs Group Inc. increased its position in Lindsay by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company’s stock worth $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 lifted its holdings in shares of Lindsay by 7.8% during the first 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 worth $4,941,000 after buying an additional 2,811 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Lindsay by 134.4% in the first quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company’s stock valued at $4,899,000 after acquiring an additional 22,204 shares during the period. 89.94% of the stock is currently owned by institutional investors.

Lindsay Stock Performance

NYSE LNN opened at $134.29 on Wednesday. Lindsay Corporation has a twelve month low of $106.10 and a twelve month high of $150.96. The company has a quick ratio of 2.43, a current ratio of 3.42 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.40 billion, a P/E ratio of 19.89 and a beta of 0.82. The company’s 50-day simple moving average is $124.88 and its 200 day simple moving average is $127.42.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, January 8th. The industrial products company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. Lindsay had a return on equity of 14.01% and a net margin of 11.02%.The company had revenue of $155.82 million for the quarter, compared to the consensus estimate of $166.81 million. During the same period in the previous year, the business earned $1.57 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts forecast that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, February 13th. Lindsay’s dividend payout ratio is 21.93%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their target price on shares of Lindsay from $122.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, January 9th. Wall Street Zen downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $128.00.

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.