Lindsay Corporation (LNN) Shares Sold by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. decreased its position in shares of Lindsay Corporation (NYSE:LNN) by 44.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,711 shares of the industrial products company’s stock after selling 4,545 shares during the quarter. Goldman Sachs Group Inc. owned 0.05% of Lindsay Corporation worth $510,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. OxFORD Asset Management LLP purchased a new stake in Lindsay Corporation in the 2nd quarter valued at approximately $219,000. Renaissance Technologies LLC lifted its stake in Lindsay Corporation by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 298,000 shares of the industrial products company’s stock valued at $26,597,000 after buying an additional 7,900 shares in the last quarter. Vanguard Group Inc. lifted its stake in Lindsay Corporation by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,014,967 shares of the industrial products company’s stock valued at $90,586,000 after buying an additional 22,310 shares in the last quarter. Northern Trust Corp lifted its stake in Lindsay Corporation by 2.1% in the 2nd quarter. Northern Trust Corp now owns 142,895 shares of the industrial products company’s stock valued at $12,754,000 after buying an additional 2,976 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Lindsay Corporation by 6.7% in the 2nd quarter. GSA Capital Partners LLP now owns 7,895 shares of the industrial products company’s stock valued at $705,000 after buying an additional 495 shares in the last quarter. 96.96% of the stock is currently owned by institutional investors and hedge funds.
Lindsay Corporation (LNN) opened at $88.79 on Monday. The company has a quick ratio of 2.25, a current ratio of 3.18 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $949.79, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 2.00 and a beta of 0.49. Lindsay Corporation has a twelve month low of $72.85 and a twelve month high of $95.04.
Lindsay Corporation (NYSE:LNN) last issued its quarterly earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.18. The company had revenue of $131.94 million during the quarter, compared to the consensus estimate of $134.83 million. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%. equities research analysts anticipate that Lindsay Corporation will post 2.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 annualized dividend and a yield of 1.35%. Lindsay Corporation’s dividend payout ratio (DPR) is presently 55.56%.
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A number of equities research analysts recently issued reports on LNN shares. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $80.00 target price on shares of Lindsay Corporation in a research note on Sunday, September 10th. BidaskClub lowered Lindsay Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. TheStreet lowered Lindsay Corporation from a “b” rating to a “c+” rating in a research note on Thursday, October 12th. Stifel Nicolaus upped their target price on Lindsay Corporation from $76.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, October 13th. Finally, Zacks Investment Research lowered Lindsay Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Lindsay Corporation presently has an average rating of “Hold” and a consensus target price of $95.00.
Lindsay Corporation Profile
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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