American Capital Management Inc. continued to hold its position in Lindsay Corporation (NYSE:LNN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,295 shares of the industrial products company’s stock at the end of the second quarter. American Capital Management Inc. owned approximately 0.28% of Lindsay Corporation worth $2,704,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of LNN. State of Alaska Department of Revenue increased its position in Lindsay Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,170 shares of the industrial products company’s stock valued at $103,000 after buying an additional 20 shares during the last quarter. Van ECK Associates Corp increased its position in Lindsay Corporation by 13.7% in the first quarter. Van ECK Associates Corp now owns 1,330 shares of the industrial products company’s stock valued at $117,000 after buying an additional 160 shares during the last quarter. SG Americas Securities LLC bought a new position in Lindsay Corporation during the first quarter valued at about $133,000. US Bancorp DE raised its stake in shares of Lindsay Corporation by 100.0% in the first quarter. US Bancorp DE now owns 1,800 shares of the industrial products company’s stock valued at $159,000 after buying an additional 900 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Lindsay Corporation during the first quarter valued at $211,000.
Shares of Lindsay Corporation (NYSE LNN) traded down 1.73% during trading on Friday, hitting $86.32. 65,184 shares of the stock were exchanged. The firm has a 50 day moving average price of $90.04 and a 200 day moving average price of $84.66. The firm has a market capitalization of $922.67 million, a P/E ratio of 37.40 and a beta of 0.43. Lindsay Corporation has a 52 week low of $69.11 and a 52 week high of $95.04.
Lindsay Corporation (NYSE:LNN) last issued its quarterly earnings results on Thursday, June 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.07. Lindsay Corporation had a return on equity of 9.69% and a net margin of 4.75%. The firm had revenue of $151.50 million during the quarter, compared to the consensus estimate of $145.30 million. During the same period last year, the company earned $0.90 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Analysts forecast that Lindsay Corporation will post $2.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from Lindsay Corporation’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.39%. Lindsay Corporation’s dividend payout ratio (DPR) is presently 50.43%.
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Several brokerages have recently weighed in on LNN. BidaskClub lowered shares of Lindsay Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Piper Jaffray Companies set a $80.00 price target on shares of Lindsay Corporation and gave the company a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered shares of Lindsay Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Sidoti restated a “buy” rating and issued a $107.00 price target (up from $100.00) on shares of Lindsay Corporation in a research report on Friday, July 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, June 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Lindsay Corporation currently has an average rating of “Hold” and a consensus target price of $91.50.
In other news, insider Rick Parod sold 77,387 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $91.47, for a total transaction of $7,078,588.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David B. Downing sold 7,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $89.28, for a total value of $624,960.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
Lindsay Corporation Company Profile
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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