Candriam S.C.A. Sells 14,832 Shares of Lindsay Corporation $LNN

Candriam S.C.A. reduced its position in Lindsay Corporation (NYSE:LNN) by 80.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,680 shares of the industrial products company’s stock after selling 14,832 shares during the period. Candriam S.C.A.’s holdings in Lindsay were worth $438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNN. MQS Management LLC bought a new stake in Lindsay in the 1st quarter worth approximately $379,000. Inspire Investing LLC boosted its position in shares of Lindsay by 9.4% during the 1st quarter. Inspire Investing LLC now owns 4,394 shares of the industrial products company’s stock valued at $523,000 after acquiring an additional 379 shares during the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Lindsay in the first quarter valued at $248,000. Louisiana State Employees Retirement System bought a new stake in Lindsay in the first quarter worth $548,000. Finally, Assenagon Asset Management S.A. increased its position in Lindsay by 7.9% in the first quarter. Assenagon Asset Management S.A. now owns 10,581 shares of the industrial products company’s stock worth $1,260,000 after purchasing an additional 775 shares during the last quarter. 89.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Lindsay Stock Up 0.7%

Shares of NYSE:LNN opened at $116.22 on Thursday. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $148.00. The business has a 50 day simple moving average of $114.05 and a two-hundred day simple moving average of $119.09. The firm has a market capitalization of $1.18 billion, a PE ratio of 22.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.93 and a quick ratio of 2.04.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.14 by $0.39. The company had revenue of $160.76 million for the quarter, compared to the consensus estimate of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 EPS. On average, equities analysts predict that Lindsay Corporation will post 5.19 EPS for the current year.

Lindsay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.38 dividend. The ex-dividend date is Monday, August 17th. This is a positive change from Lindsay’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.3%. Lindsay’s dividend payout ratio (DPR) is presently 28.41%.

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.