Fenimore Asset Management Inc. increased its stake in Lindsay Corp. (NYSE:LNN) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,190 shares of the company’s stock after buying an additional 4,725 shares during the period. Fenimore Asset Management Inc.’s holdings in Lindsay Corp. were worth $8,226,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its position in shares of Lindsay Corp. by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,584 shares of the company’s stock valued at $107,000 after buying an additional 186 shares during the last quarter. Mason Street Advisors LLC bought a new position in shares of Lindsay Corp. during the second quarter valued at $143,000. Cubist Systematic Strategies LLC bought a new position in shares of Lindsay Corp. during the second quarter valued at $202,000. Legal & General Group Plc raised its position in shares of Lindsay Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 2,911 shares of the company’s stock valued at $205,000 after buying an additional 84 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Lindsay Corp. during the second quarter valued at $210,000.
Shares of Lindsay Corp. (NYSE:LNN) opened at 69.30 on Thursday. The firm has a market cap of $736.66 million, a P/E ratio of 83.29 and a beta of 0.82. The firm has a 50-day moving average of $72.19 and a 200 day moving average of $71.22. Lindsay Corp. has a 12 month low of $62.99 and a 12 month high of $79.27.
Lindsay Corp. (NYSE:LNN) last issued its quarterly earnings results on Thursday, October 13th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.30. The firm had revenue of $132.90 million for the quarter. Lindsay Corp. had a return on equity of 9.74% and a net margin of 1.83%. On average, equities research analysts anticipate that Lindsay Corp. will post $1.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.67%. Lindsay Corp.’s dividend payout ratio is currently 133.33%.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. TheStreet lowered shares of Lindsay Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Lindsay Corp. presently has an average rating of “Hold” and a consensus price target of $71.57.
Lindsay Corp. Company Profile
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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