Public Sector Pension Investment Board Purchases 5,285 Shares of Lindsay Corporation $LNN

Public Sector Pension Investment Board raised its position in Lindsay Corporation (NYSE:LNN) by 14.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,359 shares of the industrial products company’s stock after purchasing an additional 5,285 shares during the period. Public Sector Pension Investment Board owned approximately 0.39% of Lindsay worth $5,954,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of LNN. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Lindsay in the 2nd quarter valued at $159,000. State of Wyoming lifted its holdings in Lindsay by 196.4% during the second quarter. State of Wyoming now owns 1,227 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 813 shares in the last quarter. Corient Private Wealth LLC acquired a new position in Lindsay in the second quarter valued at about $217,000. Tower Research Capital LLC TRC increased its holdings in shares of Lindsay by 642.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 1,350 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Lindsay during the second quarter worth about $227,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Stock Down 0.9%

Lindsay stock opened at $133.05 on Thursday. The company has a current ratio of 3.42, a quick ratio of 2.43 and a debt-to-equity ratio of 0.22. Lindsay Corporation has a 1-year low of $106.10 and a 1-year high of $150.96. The company has a fifty day simple moving average of $125.10 and a 200 day simple moving average of $127.46. The company has a market cap of $1.39 billion, a P/E ratio of 19.71 and a beta of 0.82.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, January 8th. The industrial products company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.08. Lindsay had a net margin of 11.02% and a return on equity of 14.01%. The company had revenue of $155.82 million during the quarter, compared to the consensus estimate of $166.81 million. During the same period in the prior year, the business posted $1.57 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. 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, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. Lindsay’s payout ratio is 21.93%.

Analyst Ratings Changes

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

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.