Lindsay Corporation $LNN Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in shares of Lindsay Corporation (NYSE:LNN) by 312.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,806 shares of the industrial products company’s stock after purchasing an additional 7,427 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Lindsay worth $1,156,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LNN. American Century Companies Inc. increased its position in shares of Lindsay by 185.8% during the second quarter. American Century Companies Inc. now owns 131,079 shares of the industrial products company’s stock worth $18,908,000 after acquiring an additional 85,212 shares during the period. Chatham Capital Group Inc. purchased a new position in Lindsay in the third quarter valued at $1,725,000. SG Americas Securities LLC boosted its holdings in Lindsay by 505.3% in the third quarter. SG Americas Securities LLC now owns 16,518 shares of the industrial products company’s stock valued at $2,322,000 after purchasing an additional 13,789 shares during the period. Amundi grew its stake in Lindsay by 48.8% during the 2nd quarter. Amundi now owns 210,043 shares of the industrial products company’s stock worth $28,286,000 after purchasing an additional 68,863 shares in the last quarter. Finally, Pier Capital LLC grew its stake in Lindsay by 34.0% during the 3rd quarter. Pier Capital LLC now owns 71,799 shares of the industrial products company’s stock worth $10,092,000 after purchasing an additional 18,205 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Price Performance

LNN stock opened at $118.54 on Wednesday. The company has a quick ratio of 2.43, a current ratio of 3.42 and a debt-to-equity ratio of 0.22. Lindsay Corporation has a fifty-two week low of $106.10 and a fifty-two week high of $150.96. The business has a 50 day moving average price of $127.79 and a 200 day moving average price of $124.84. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 17.56 and a beta of 0.79.

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

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.37 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 1.2%. Lindsay’s payout ratio is currently 21.93%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lifted their price target on shares of Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $128.00.

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.