Lightrock Netherlands B.V. Acquires 6,500 Shares of Lindsay Corporation $LNN

Lightrock Netherlands B.V. increased its holdings in shares of Lindsay Corporation (NYSE:LNN) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,415 shares of the industrial products company’s stock after acquiring an additional 6,500 shares during the quarter. Lindsay makes up about 1.6% of Lightrock Netherlands B.V.’s holdings, making the stock its 14th largest position. Lightrock Netherlands B.V. owned about 1.27% of Lindsay worth $15,608,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. State of Alaska Department of Revenue lifted its holdings in Lindsay by 67.6% during the fourth quarter. State of Alaska Department of Revenue now owns 10,169 shares of the industrial products company’s stock worth $1,197,000 after acquiring an additional 4,101 shares during the period. Perigon Wealth Management LLC bought a new stake in Lindsay during the fourth quarter worth $256,000. Chatham Capital Group Inc. lifted its holdings in Lindsay by 1.4% during the fourth quarter. Chatham Capital Group Inc. now owns 12,440 shares of the industrial products company’s stock worth $1,466,000 after acquiring an additional 170 shares during the period. Canvas Wealth Advisors LLC bought a new stake in Lindsay during the fourth quarter worth $232,000. Finally, SG Americas Securities LLC lifted its holdings in Lindsay by 5.1% during the fourth quarter. SG Americas Securities LLC now owns 17,354 shares of the industrial products company’s stock worth $2,046,000 after acquiring an additional 836 shares during the period. 89.94% of the stock is currently owned by institutional investors.

Lindsay Stock Performance

NYSE:LNN opened at $107.31 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15. The business has a fifty day simple moving average of $123.93 and a two-hundred day simple moving average of $122.57. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $150.96. The company has a market capitalization of $1.12 billion, a P/E ratio of 19.65 and a beta of 0.82.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The firm had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. During the same period in the prior year, the business earned $2.44 earnings per share. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 15th. Lindsay’s dividend payout ratio (DPR) is presently 27.11%.

Analyst Ratings Changes

A number of analysts have issued reports on LNN shares. Zacks Research downgraded Lindsay from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Stifel Nicolaus decreased their target price on Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $113.00.

About Lindsay

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.