Versor Investments LP Makes New $361,000 Investment in Lindsay Corporation $LNN

Versor Investments LP bought a new position in shares of Lindsay Corporation (NYSE:LNN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,502 shares of the industrial products company’s stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Lindsay by 55.8% in the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock valued at $54,000 after buying an additional 154 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Lindsay in the second quarter valued at approximately $1,421,000. Integrity Alliance LLC. acquired a new position in shares of Lindsay in the first quarter valued at approximately $290,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lindsay by 82.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,626 shares of the industrial products company’s stock valued at $5,393,000 after buying an additional 19,233 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Lindsay in the first quarter valued at approximately $782,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Insider Activity

In other news, Director Robert E. Brunner sold 1,856 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total value of $263,700.48. Following the completion of the sale, the director owned 3,274 shares of the company’s stock, valued at $465,169.92. This represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on LNN. Weiss Ratings reissued a “hold (c)” rating on shares of Lindsay in a research report on Friday, October 31st. Wall Street Zen lowered 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 target price on shares of Lindsay in a report on Friday, October 24th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $122.00.

Lindsay Price Performance

Lindsay stock opened at $114.80 on Thursday. Lindsay Corporation has a 1 year low of $108.70 and a 1 year high of $150.96. The firm has a 50 day moving average price of $132.44 and a 200 day moving average price of $135.68. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 16.93 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.76 and a current ratio of 3.71.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, October 23rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.05). Lindsay had a net margin of 10.95% and a return on equity of 14.33%. The company had revenue of $153.56 million during the quarter, compared to analysts’ expectations of $156.91 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Lindsay’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts predict that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

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

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.