Lindsay Corporation $LNN Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Lindsay Corporation (NYSE:LNN) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,359 shares of the industrial products company’s stock after selling 512 shares during the period. Teacher Retirement System of Texas owned 0.08% of Lindsay worth $1,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Lindsay during the second quarter worth approximately $26,000. Banque Cantonale Vaudoise acquired a new position in Lindsay during the first quarter worth approximately $31,000. State of Wyoming purchased a new stake in Lindsay during the first quarter worth approximately $52,000. GAMMA Investing LLC grew its stake 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 during the period. Finally, Diversified Trust Co purchased a new stake in Lindsay during the second quarter worth approximately $217,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LNN has been the subject of several research reports. Stifel Nicolaus set a $122.00 price objective on shares of Lindsay in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research note on Friday, October 31st. Finally, Wall Street Zen downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.00.

Lindsay Price Performance

Shares of LNN stock opened at $114.80 on Thursday. The company has a market capitalization of $1.24 billion, a PE ratio of 16.93 and a beta of 0.82. The firm has a fifty day simple moving average of $132.44 and a 200-day simple moving average of $135.68. The company has a current ratio of 3.71, a quick ratio of 2.76 and a debt-to-equity ratio of 0.22. Lindsay Corporation has a twelve month low of $108.70 and a twelve month high of $150.96.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, October 23rd. The industrial products company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.05). The firm had revenue of $153.56 million during the quarter, compared to analysts’ expectations of $156.91 million. Lindsay had a net margin of 10.95% and a return on equity of 14.33%. Lindsay’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 earnings per share. Equities research analysts anticipate 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, November 28th. Investors of record on Friday, November 14th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 1.3%. Lindsay’s dividend payout ratio is currently 21.83%.

Insider Transactions at Lindsay

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

Lindsay 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.