Nuance Investments LLC Decreases Holdings in Lindsay Corporation $LNN

Nuance Investments LLC trimmed its position in Lindsay Corporation (NYSE:LNN) by 21.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,214 shares of the industrial products company’s stock after selling 14,513 shares during the period. Nuance Investments LLC owned approximately 0.48% of Lindsay worth $7,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Lindsay by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 55,251 shares of the industrial products company’s stock valued at $6,990,000 after purchasing an additional 1,423 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in Lindsay during the 1st quarter valued at about $200,000. Victory Capital Management Inc. increased its position in Lindsay by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company’s stock valued at $1,365,000 after buying an additional 76 shares in the last quarter. Jennison Associates LLC raised its stake in Lindsay by 404.3% in the first quarter. Jennison Associates LLC now owns 216,878 shares of the industrial products company’s stock valued at $27,439,000 after buying an additional 173,872 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in Lindsay in the first quarter worth about $1,569,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LNN shares. Weiss Ratings restated a “hold (c)” rating on shares of Lindsay in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Stifel Nicolaus set a $122.00 price target on shares of Lindsay in a report on Friday, October 24th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $122.00.

Lindsay Price Performance

Shares of NYSE:LNN opened at $110.76 on Friday. Lindsay Corporation has a twelve month low of $108.70 and a twelve month high of $150.96. The company has a current ratio of 3.71, a quick ratio of 2.76 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.20 billion, a PE ratio of 16.34 and a beta of 0.84. The company’s 50 day moving average is $131.36 and its 200 day moving average is $135.50.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.05). The business 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%. The firm’s revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. On average, sell-side analysts forecast that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Lindsay’s dividend payout ratio is presently 21.83%.

Insiders Place Their Bets

In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the sale, the director directly owned 3,274 shares of the company’s stock, valued at approximately $465,169.92. This trade represents a 36.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

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.