BlueCrest Capital Management Ltd Has $285,000 Stake in Lindsay Corporation (LNN)
BlueCrest Capital Management Ltd reduced its position in Lindsay Corporation (NYSE:LNN) by 38.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,189 shares of the industrial products company’s stock after selling 2,017 shares during the period. BlueCrest Capital Management Ltd’s holdings in Lindsay Corporation were worth $285,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its position in shares of Lindsay Corporation by 72.7% in the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock worth $115,000 after acquiring an additional 544 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Lindsay Corporation by 467.1% in the second quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 1,177 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Lindsay Corporation in the first quarter worth approximately $133,000. Van ECK Associates Corp increased its position in shares of Lindsay Corporation by 27.2% in the second quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 362 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Lindsay Corporation by 100.0% in the first quarter. US Bancorp DE now owns 1,800 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 900 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.
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LNN has been the topic of several analyst reports. BidaskClub downgraded shares of Lindsay Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Boenning Scattergood reissued a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, June 29th. Zacks Investment Research raised shares of Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Monday, July 31st. Piper Jaffray Companies set a $80.00 target price on shares of Lindsay Corporation and gave the stock a “hold” rating in a research report on Saturday, August 5th. Finally, Sidoti restated a “buy” rating and set a $107.00 price target (up from $100.00) on shares of Lindsay Corporation in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Lindsay Corporation currently has a consensus rating of “Hold” and a consensus target price of $95.00.
Shares of Lindsay Corporation (NYSE LNN) opened at 90.85 on Thursday. Lindsay Corporation has a 12-month low of $72.85 and a 12-month high of $95.04. The company’s 50 day moving average is $89.44 and its 200 day moving average is $87.90. The firm has a market capitalization of $971.10 million, a PE ratio of 39.36 and a beta of 0.44.
Lindsay Corporation (NYSE:LNN) last posted its earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.18. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%. The business had revenue of $131.94 million during the quarter, compared to analysts’ expectations of $134.83 million. On average, analysts forecast that Lindsay Corporation will post $2.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.32%. Lindsay Corporation’s payout ratio is 55.56%.
In related news, insider Rick Parod sold 77,387 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $91.47, for a total transaction of $7,078,588.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.
Lindsay Corporation 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.
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