MQS Management LLC Buys New Holdings in Lindsay Corporation $LNN

MQS Management LLC bought a new stake in shares of Lindsay Corporation (NYSE:LNN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 4,378 shares of the industrial products company’s stock, valued at approximately $632,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Lindsay by 0.7% in the 1st quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company’s stock worth $1,365,000 after acquiring an additional 76 shares during the last quarter. GAMMA Investing LLC increased its stake in Lindsay by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 154 shares during the last quarter. USA Financial Formulas bought a new stake in Lindsay in the 2nd quarter worth approximately $26,000. Union Bancaire Privee UBP SA increased its stake in Lindsay by 3.6% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 6,133 shares of the industrial products company’s stock worth $878,000 after acquiring an additional 215 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Lindsay in the 1st quarter worth approximately $31,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

Shares of LNN stock opened at $116.23 on Friday. Lindsay Corporation has a twelve month low of $109.87 and a twelve month high of $150.96. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 17.14 and a beta of 0.82. The stock has a fifty day simple moving average of $136.91 and a two-hundred day simple moving average of $136.38. The company has a current ratio of 3.71, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22.

Lindsay (NYSE:LNN) last issued its earnings results 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). Lindsay had a return on equity of 14.33% and a net margin of 10.95%.The firm had revenue of $153.56 million during the quarter, compared to analysts’ expectations of $156.91 million. During the same quarter in the prior year, the company posted $1.17 earnings per share. Lindsay’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts predict that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LNN has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lindsay in a research note on Wednesday, October 8th. Stifel Nicolaus set a $122.00 price objective on Lindsay in a research note on Friday. Finally, Wall Street Zen downgraded Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $122.00.

Insider Buying and Selling at Lindsay

In related news, Director Robert E. Brunner sold 1,856 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director directly owned 3,274 shares in the company, valued at $465,169.92. This represents a 36.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.

Lindsay Company 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.