Hsbc Holdings PLC Makes New $778,000 Investment in Lindsay Corporation $LNN

Hsbc Holdings PLC acquired a new position in Lindsay Corporation (NYSE:LNN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,557 shares of the industrial products company’s stock, valued at approximately $778,000. Hsbc Holdings PLC owned approximately 0.06% of Lindsay as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. increased its holdings in Lindsay by 2,694.6% in the 4th quarter. Pacer Advisors Inc. now owns 29,679 shares of the industrial products company’s stock valued at $3,498,000 after purchasing an additional 28,617 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Lindsay by 312.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 9,806 shares of the industrial products company’s stock valued at $1,156,000 after purchasing an additional 7,427 shares during the period. Jackson Creek Investment Advisors LLC acquired a new position in shares of Lindsay during the fourth quarter worth about $1,767,000. Nuance Investments LLC lifted its stake in shares of Lindsay by 293.5% during the fourth quarter. Nuance Investments LLC now owns 178,571 shares of the industrial products company’s stock worth $21,048,000 after purchasing an additional 133,190 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Lindsay by 1,488.1% in the fourth quarter. WINTON GROUP Ltd now owns 32,017 shares of the industrial products company’s stock worth $3,774,000 after buying an additional 30,001 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LNN shares. Zacks Research upgraded Lindsay from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Stifel Nicolaus decreased their price target on Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Weiss Ratings cut Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.00.

Lindsay Stock Performance

Shares of LNN stock opened at $115.74 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.93 and a quick ratio of 2.04. The company’s fifty day moving average price is $114.01 and its two-hundred day moving average price is $119.11. The firm has a market capitalization of $1.18 billion, a P/E ratio of 22.22 and a beta of 0.69. Lindsay Corporation has a 12 month low of $97.27 and a 12 month high of $148.00.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.39. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The company had revenue of $160.76 million during the quarter, compared to the consensus estimate of $157.80 million. During the same period last year, the firm earned $1.78 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. On average, research analysts anticipate that Lindsay Corporation will post 5.19 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.38 per share. This is a boost from Lindsay’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, August 17th. This represents a $1.52 dividend on an annualized basis and a yield of 1.3%. Lindsay’s payout ratio is 28.41%.

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.