Mutual of America Capital Management LLC Sells 187 Shares of Lindsay Corporation $LNN

Mutual of America Capital Management LLC cut its holdings in shares of Lindsay Corporation (NYSE:LNN) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,396 shares of the industrial products company’s stock after selling 187 shares during the period. Mutual of America Capital Management LLC’s holdings in Lindsay were worth $201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its position in Lindsay by 55.8% during the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock worth $54,000 after buying an additional 154 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Lindsay in the 2nd quarter valued at $1,421,000. Integrity Alliance LLC. purchased a new stake in Lindsay during the 1st quarter valued at about $290,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lindsay by 82.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,626 shares of the industrial products company’s stock valued at $5,393,000 after buying an additional 19,233 shares during the period. Finally, UniSuper Management Pty Ltd purchased a new stake in Lindsay in the 1st quarter worth approximately $782,000. 89.94% of the stock is currently owned by institutional investors.

Lindsay Price Performance

NYSE LNN opened at $110.00 on Friday. Lindsay Corporation has a 52 week low of $108.70 and a 52 week high of $150.96. The firm has a market capitalization of $1.19 billion, a P/E ratio of 16.22 and a beta of 0.82. The company has a quick ratio of 2.76, a current ratio of 3.71 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $134.67 and a 200-day moving average price of $135.97.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.05). Lindsay had a net margin of 10.95% and a return on equity of 14.33%. The business had revenue of $153.56 million for the quarter, compared to analysts’ expectations of $156.91 million. During the same period in the previous year, the company earned $1.17 EPS. Lindsay’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued 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 is Friday, November 14th. Lindsay’s dividend payout ratio is currently 21.83%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LNN shares. Stifel Nicolaus set a $122.00 price target on shares of Lindsay in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lindsay in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Lindsay from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $122.00.

Insider Activity at Lindsay

In other news, Director Robert E. Brunner sold 1,856 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total value of $263,700.48. Following the completion of the sale, the director directly owned 3,274 shares in the company, valued at $465,169.92. This represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is owned by company insiders.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.