ProShare Advisors LLC Purchases 5,615 Shares of Lindsay Corporation $LNN

ProShare Advisors LLC grew its position in shares of Lindsay Corporation (NYSE:LNN) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,927 shares of the industrial products company’s stock after purchasing an additional 5,615 shares during the quarter. ProShare Advisors LLC’s holdings in Lindsay were worth $6,121,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LNN. Advisory Services Network LLC bought a new position in shares of Lindsay during the 3rd quarter valued at about $30,000. Copeland Capital Management LLC bought a new position in shares of Lindsay during the 4th quarter valued at about $62,000. Russell Investments Group Ltd. increased its position in shares of Lindsay by 2,226.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 913 shares during the last quarter. State of Wyoming increased its position in shares of Lindsay by 196.4% during the 2nd quarter. State of Wyoming now owns 1,227 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 813 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Lindsay by 23.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,363 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 263 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors.

Lindsay Price Performance

LNN opened at $109.34 on Friday. The stock’s 50 day simple moving average is $111.73 and its 200 day simple moving average is $119.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $150.96. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 20.03 and a beta of 0.73.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The company had revenue of $157.72 million for the quarter, compared to the consensus estimate of $163.52 million. During the same quarter in the previous year, the business earned $2.44 earnings per share. Lindsay’s revenue was down 15.7% compared to the same quarter last year. As a group, analysts predict that Lindsay Corporation will post 5.19 earnings per share for the current year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, May 15th. Lindsay’s dividend payout ratio (DPR) is presently 27.11%.

Analyst Ratings Changes

LNN has been the topic of several recent research reports. Zacks Research lowered Lindsay from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Stifel Nicolaus reduced their price target on Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Weiss Ratings lowered Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” 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.