Nuance Investments LLC Grows Stake in Lindsay Corporation $LNN

Nuance Investments LLC grew its position in shares of Lindsay Corporation (NYSE:LNN) by 293.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,571 shares of the industrial products company’s stock after purchasing an additional 133,190 shares during the period. Lindsay makes up 2.3% of Nuance Investments LLC’s portfolio, making the stock its 15th biggest holding. Nuance Investments LLC’s holdings in Lindsay were worth $21,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Lindsay by 5.6% in the second quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock worth $68,342,000 after acquiring an additional 25,251 shares in the last quarter. Invesco Ltd. grew its position in Lindsay by 32.6% in the third quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock worth $28,953,000 after acquiring an additional 50,671 shares in the last quarter. First Trust Advisors LP grew its position in Lindsay by 4.9% in the third quarter. First Trust Advisors LP now owns 191,820 shares of the industrial products company’s stock worth $26,962,000 after acquiring an additional 8,985 shares in the last quarter. Legal & General Group Plc grew its position in Lindsay by 2.3% in the fourth quarter. Legal & General Group Plc now owns 160,199 shares of the industrial products company’s stock worth $18,883,000 after acquiring an additional 3,602 shares in the last quarter. Finally, Lightrock Netherlands B.V. grew its position in Lindsay by 5.2% in the fourth quarter. Lightrock Netherlands B.V. now owns 132,415 shares of the industrial products company’s stock worth $15,608,000 after acquiring an additional 6,500 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on LNN shares. Weiss Ratings lowered shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Zacks Research lowered shares of Lindsay from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Finally, Stifel Nicolaus cut their target price on shares of 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. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $113.00.

Lindsay Stock Performance

NYSE LNN opened at $112.49 on Friday. The company has a 50-day simple moving average of $110.17 and a two-hundred day simple moving average of $119.04. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. Lindsay Corporation has a 12-month low of $97.27 and a 12-month high of $150.96. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 20.60 and a beta of 0.72.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The business had revenue of $157.72 million for the quarter, compared to analysts’ expectations of $163.52 million. During the same quarter in the previous year, the company earned $2.44 earnings per share. The business’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts forecast that Lindsay Corporation will post 5.19 EPS for the current year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were 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 was Friday, May 15th. Lindsay’s dividend payout ratio is 27.11%.

Lindsay Profile

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.