Nuance Investments LLC Makes New $22.20 Million Investment in Lindsay Corporation $LNN

Nuance Investments LLC purchased a new position in shares of Lindsay Corporation (NYSE:LNN) during the 2nd quarter, HoldingsChannel reports. The firm purchased 179,283 shares of the industrial products company’s stock, valued at approximately $22,195,000. Lindsay accounts for about 3.8% of Nuance Investments LLC’s holdings, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Lindsay in the 2nd quarter valued at $219,361,000. Wellington Management Group LLP bought a new stake in Lindsay in the fourth quarter worth $13,994,000. Bank of New York Mellon Corp acquired a new position in Lindsay during the second quarter worth $11,869,000. Amundi increased its position in Lindsay by 39.4% during the fourth quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after buying an additional 76,292 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Lindsay by 32.6% during the third quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock valued at $28,953,000 after buying an additional 50,671 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Trading Down 0.9%

Shares of Lindsay stock opened at $114.08 on Tuesday. The company’s fifty day simple moving average is $116.11 and its 200-day simple moving average is $117.72. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 21.90 and a beta of 0.70. The company has a current ratio of 2.93, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23. Lindsay Corporation has a 1 year low of $97.27 and a 1 year high of $148.00.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.14 by $0.39. The firm had revenue of $160.76 million during the quarter, compared to analysts’ expectations of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. As a group, sell-side analysts expect that Lindsay Corporation will post 5.19 EPS for the current year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 17th. This is a positive change from Lindsay’s previous quarterly dividend of $0.37. Lindsay’s payout ratio is presently 29.17%.

Analyst Ratings Changes

A number of brokerages have weighed in on LNN. Zacks Research raised Lindsay from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings lowered Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.