John G Ullman & Associates Inc. Boosts Stake in Lindsay Corporation $LNN

John G Ullman & Associates Inc. boosted its stake in shares of Lindsay Corporation (NYSE:LNN) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,410 shares of the industrial products company’s stock after purchasing an additional 6,110 shares during the period. Lindsay comprises about 1.4% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 22nd biggest position. John G Ullman & Associates Inc. owned approximately 0.85% of Lindsay worth $10,527,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Lindsay by 5.6% in the 2nd 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. Dimensional Fund Advisors LP boosted its position in shares of Lindsay by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 345,596 shares of the industrial products company’s stock worth $40,736,000 after purchasing an additional 8,567 shares during the period. Amundi boosted its position in shares of Lindsay by 39.4% in the fourth quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after purchasing an additional 76,292 shares during the period. Invesco Ltd. increased its stake in shares of Lindsay by 10.1% in the fourth quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company’s stock worth $26,732,000 after purchasing an additional 20,811 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Lindsay by 2.8% in the fourth quarter. First Trust Advisors LP now owns 197,123 shares of the industrial products company’s stock worth $23,235,000 after purchasing an additional 5,303 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Trading Down 1.9%

Lindsay stock opened at $115.97 on Friday. The stock has a market cap of $1.18 billion, a P/E ratio of 22.26 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 Corporation has a 1 year low of $97.27 and a 1 year high of $148.00. The firm’s 50 day moving average price is $114.29 and its 200-day moving average price is $119.06.

Lindsay (NYSE:LNN) last released its 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 firm 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 company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 earnings per share. On average, equities analysts predict that Lindsay Corporation will post 5.19 earnings per share for the current fiscal year.

Lindsay Increases Dividend

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

Wall Street Analyst Weigh In

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

About Lindsay

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.