John G Ullman & Associates Inc. Acquires 6,110 Shares of Lindsay Corporation $LNN

John G Ullman & Associates Inc. increased its stake in Lindsay Corporation (NYSE:LNN) by 7.4% in the 1st quarter, HoldingsChannel reports. The fund owned 88,410 shares of the industrial products company’s stock after acquiring an additional 6,110 shares during the period. Lindsay accounts for approximately 1.4% of John G Ullman & Associates Inc.’s holdings, making the stock its 22nd largest holding. John G Ullman & Associates Inc.’s holdings in Lindsay were worth $10,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in Lindsay by 5.6% during the second quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock valued at $68,342,000 after purchasing an additional 25,251 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Lindsay by 2.5% in the 4th 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 holdings in shares of Lindsay by 39.4% in the 4th 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 position in shares of Lindsay by 10.1% during the 4th quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company’s stock valued at $26,732,000 after purchasing an additional 20,811 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Lindsay by 2.8% during the 4th quarter. First Trust Advisors LP now owns 197,123 shares of the industrial products company’s stock valued at $23,235,000 after purchasing an additional 5,303 shares during the last quarter. 89.94% of the stock is owned by institutional investors.

Lindsay Stock Down 1.9%

Shares of NYSE LNN opened at $115.97 on Friday. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $148.00. The firm has a 50-day simple moving average of $114.29 and a two-hundred day simple moving average of $119.06. The company 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 (NYSE:LNN) last released its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.39. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The firm had revenue of $160.76 million for the quarter, compared to analysts’ expectations of $157.80 million. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Research analysts anticipate that Lindsay Corporation will post 5.19 earnings per share for the current year.

Lindsay Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis 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 (DPR) is presently 28.41%.

Analyst Upgrades and Downgrades

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

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.