Campbell & CO Investment Adviser LLC Invests $1.14 Million in Lindsay Corporation $LNN

Campbell & CO Investment Adviser LLC acquired a new stake in Lindsay Corporation (NYSE:LNN) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,932 shares of the industrial products company’s stock, valued at approximately $1,144,000. Campbell & CO Investment Adviser LLC owned 0.07% of Lindsay at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LNN. Jennison Associates LLC raised its position in shares of Lindsay by 107.5% during the 2nd quarter. Jennison Associates LLC now owns 450,121 shares of the industrial products company’s stock valued at $64,930,000 after acquiring an additional 233,243 shares during the last quarter. Nuveen LLC bought a new stake in Lindsay in the first quarter valued at about $4,593,000. Sandler Capital Management acquired a new position in Lindsay in the first quarter valued at about $3,036,000. Jane Street Group LLC boosted its holdings in Lindsay by 134.4% during the first 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. Finally, Panagora Asset Management Inc. grew its position in shares of Lindsay by 431.4% during the 1st quarter. Panagora Asset Management Inc. now owns 24,779 shares of the industrial products company’s stock worth $3,135,000 after buying an additional 20,116 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lindsay Price Performance

LNN stock opened at $112.18 on Thursday. The stock has a 50-day moving average price of $129.86 and a two-hundred day moving average price of $135.17. Lindsay Corporation has a 1 year low of $108.70 and a 1 year high of $150.96. The stock has a market cap of $1.21 billion, a PE ratio of 16.55 and a beta of 0.84. The company has a current ratio of 3.71, a quick ratio of 2.76 and a debt-to-equity ratio of 0.22.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.05). The firm had revenue of $153.56 million for the quarter, compared to analyst estimates of $156.91 million. Lindsay had a return on equity of 14.33% and a net margin of 10.95%.The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 earnings per share. Equities analysts forecast that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

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

About Lindsay

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.