Lindsay Corporation (LNN) Holdings Trimmed by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC lessened its stake in shares of Lindsay Corporation (NYSE:LNN) by 74.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,617 shares of the industrial products company’s stock after selling 58,003 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.18% of Lindsay Corporation worth $1,751,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in Lindsay Corporation by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the industrial products company’s stock valued at $265,000 after buying an additional 14 shares in the last quarter. Texas Permanent School Fund grew its holdings in Lindsay Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 7,761 shares of the industrial products company’s stock valued at $693,000 after buying an additional 65 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Lindsay Corporation by 1.1% during the 1st quarter. Legal & General Group Plc now owns 18,768 shares of the industrial products company’s stock valued at $1,654,000 after acquiring an additional 197 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Lindsay Corporation by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock valued at $2,550,000 after acquiring an additional 238 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Lindsay Corporation by 1.6% during the 1st quarter. Teachers Advisors LLC now owns 20,768 shares of the industrial products company’s stock valued at $1,830,000 after acquiring an additional 337 shares during the last quarter. 97.51% of the stock is owned by institutional investors and hedge funds.

Shares of Lindsay Corporation (NYSE LNN) opened at $88.79 on Friday. The stock has a market capitalization of $949.79, a PE ratio of 41.11, a PEG ratio of 2.00 and a beta of 0.49. The company has a current ratio of 3.18, a quick ratio of 2.25 and a debt-to-equity ratio of 0.43. Lindsay Corporation has a 12-month low of $72.85 and a 12-month high of $95.04.

Lindsay Corporation (NYSE:LNN) last released its earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.18. The company had revenue of $131.94 million during the quarter, compared to the consensus estimate of $134.83 million. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%. sell-side analysts forecast that Lindsay Corporation will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.35%. Lindsay Corporation’s payout ratio is 55.56%.

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LNN has been the subject of a number of research analyst reports. BidaskClub downgraded Lindsay Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Monday, July 31st. Piper Jaffray Companies set a $80.00 price target on Lindsay Corporation and gave the company a “hold” rating in a research report on Saturday, August 5th. Boenning Scattergood reiterated a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, October 12th. Finally, TheStreet downgraded Lindsay Corporation from a “b” rating to a “c+” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Lindsay Corporation presently has an average rating of “Hold” and an average price target of $95.00.

Lindsay Corporation Company Profile

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

Institutional Ownership by Quarter for Lindsay Corporation (NYSE:LNN)

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