Nuance Investments LLC Sells 6,833 Shares of Lindsay Corporation $LNN

Nuance Investments LLC reduced its holdings in shares of Lindsay Corporation (NYSE:LNN) by 13.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,381 shares of the industrial products company’s stock after selling 6,833 shares during the quarter. Nuance Investments LLC owned approximately 0.42% of Lindsay worth $6,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Lindsay by 13.9% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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. lifted its position in Lindsay by 13.4% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Lindsay by 7.8% during the 1st 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 stake in shares of Lindsay by 134.4% during the 1st quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company’s stock worth $4,899,000 after buying an additional 22,204 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNN has been the topic of a number of recent research reports. Wall Street Zen lowered Lindsay from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Stifel Nicolaus boosted their price target on Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research note on Friday, October 31st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $128.00.

Lindsay Trading Up 1.1%

LNN stock opened at $134.30 on Monday. Lindsay Corporation has a one year low of $106.10 and a one year high of $150.96. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 19.90 and a beta of 0.82. The company has a fifty day moving average price of $122.58 and a two-hundred day moving average price of $127.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.42 and a quick ratio of 2.43.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, January 8th. The industrial products company reported $1.54 earnings per share (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 analysts’ expectations of $166.81 million. During the same quarter last year, the company posted $1.57 EPS. Lindsay’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, February 13th. Lindsay’s payout ratio is currently 21.93%.

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.