Nuance Investments LLC Buys Shares of 179,283 Lindsay Corporation $LNN

Nuance Investments LLC bought a new stake in Lindsay Corporation (NYSE:LNN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 179,283 shares of the industrial products company’s stock, valued at approximately $22,195,000. Lindsay makes up approximately 3.8% of Nuance Investments LLC’s investment portfolio, making the stock its 9th largest position. Nuance Investments LLC owned approximately 1.76% of Lindsay as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Lindsay during the second quarter valued at $219,361,000. Wellington Management Group LLP purchased a new stake in Lindsay in the 4th quarter worth about $13,994,000. Bank of New York Mellon Corp acquired a new stake in Lindsay during the 2nd quarter worth about $11,869,000. Amundi boosted its position in Lindsay by 39.4% during the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after acquiring an additional 76,292 shares during the period. Finally, Invesco Ltd. boosted its position in Lindsay by 32.6% during the 3rd 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 during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LNN. Weiss Ratings downgraded Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Zacks Research upgraded shares of Lindsay from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.00.

Lindsay Price Performance

Shares of NYSE:LNN opened at $114.08 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $148.00. The business has a fifty day simple moving average of $116.11 and a 200 day simple moving average of $117.72. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 21.90 and a beta of 0.70.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.39. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The firm had revenue of $160.76 million for the quarter, compared to the consensus estimate of $157.80 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Lindsay Corporation will post 5.19 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.38 per share. The ex-dividend date is Monday, August 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.3%. This is a positive change from Lindsay’s previous quarterly dividend of $0.37. Lindsay’s dividend payout ratio is presently 29.17%.

Lindsay Company 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.