KBC Group NV Purchases 12,386 Shares of Lindsay Corporation $LNN

KBC Group NV grew its holdings in shares of Lindsay Corporation (NYSE:LNN) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 365,624 shares of the industrial products company’s stock after acquiring an additional 12,386 shares during the quarter. KBC Group NV’s holdings in Lindsay were worth $52,741,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new position in shares of Lindsay in the second quarter worth about $1,421,000. Integrity Alliance LLC. bought a new position in Lindsay during the 1st quarter worth approximately $290,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lindsay by 82.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,626 shares of the industrial products company’s stock worth $5,393,000 after purchasing an additional 19,233 shares during the period. UniSuper Management Pty Ltd bought a new stake in Lindsay in the first quarter valued at approximately $782,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Lindsay by 0.7% during the first quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company’s stock valued at $1,365,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Stock Down 0.2%

Shares of NYSE:LNN opened at $112.18 on Thursday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 16.55 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.76 and a current ratio of 3.71. The stock has a 50 day moving average price of $129.86 and a 200-day moving average price of $135.17. Lindsay Corporation has a 52-week low of $108.70 and a 52-week high of $150.96.

Lindsay (NYSE:LNN) last issued its quarterly 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). The firm had revenue of $153.56 million during the quarter, compared to analysts’ expectations of $156.91 million. Lindsay had a return on equity of 14.33% and a net margin of 10.95%.Lindsay’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 earnings per share. As a group, equities research analysts anticipate 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. Investors of record on Friday, November 14th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Lindsay’s dividend payout ratio (DPR) is 21.83%.

Wall Street Analysts Forecast Growth

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

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.