Candriam S.C.A. Purchases 14,321 Shares of Lindsay Corporation $LNN

Candriam S.C.A. grew its holdings in shares of Lindsay Corporation (NYSE:LNN) by 389.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,001 shares of the industrial products company’s stock after purchasing an additional 14,321 shares during the quarter. Candriam S.C.A.’s holdings in Lindsay were worth $2,022,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Ethic Inc. purchased a new position in shares of Lindsay in the third quarter worth $347,000. Canvas Wealth Advisors LLC grew its holdings in shares of Lindsay by 23.8% during the third quarter. Canvas Wealth Advisors LLC now owns 3,265 shares of the industrial products company’s stock valued at $347,000 after buying an additional 627 shares during the last quarter. Putney Financial Group LLC purchased a new stake in shares of Lindsay during the third quarter valued at $152,000. ProShare Advisors LLC grew its holdings in shares of Lindsay by 47.4% during the third quarter. ProShare Advisors LLC now owns 87,868 shares of the industrial products company’s stock valued at $9,836,000 after buying an additional 28,256 shares during the last quarter. Finally, Inspire Investing LLC increased its position in shares of Lindsay by 1.8% in the 3rd quarter. Inspire Investing LLC now owns 5,686 shares of the industrial products company’s stock valued at $637,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Analysts Set New Price Targets

LNN has been the subject of a number of research reports. Weiss Ratings cut Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 16th. Zacks Research lowered Lindsay from a “hold” rating to a “strong sell” rating in a report on Thursday, October 29th. Finally, Stifel Nicolaus cut their price objective on Lindsay from $121.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $119.00.

Lindsay Stock Performance

LNN opened at $109.04 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.15 and a quick ratio of 2.25. The firm has a fifty day moving average price of $112.68 and a 200 day moving average price of $116.38. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $148.00. The stock has a market cap of $1.11 billion, a P/E ratio of 20.50 and a beta of 0.73.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, October 22nd. The industrial products company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. Lindsay had a return on equity of 10.96% and a net margin of 8.75%. The firm had revenue of $161.57 million for the quarter, compared to analysts’ expectations of $147.56 million. During the same period last year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Lindsay Corporation will post 4.70 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 16th. Lindsay’s payout ratio is presently 28.57%.

Lindsay Profile

Lindsay Corporation is a manufacturer of irrigation and infrastructure equipment. Founded in 1955 and headquartered in Omaha, Nebraska, the company is best known for its Zimmatic center-pivot and lateral-move irrigation systems, which help farmers apply water to crops. Its agricultural technology offerings also include FieldNET, a platform for remotely monitoring and controlling irrigation equipment. Lindsay’s infrastructure business supplies products and systems for transportation safety and traffic management.