Lindsay Corporation (LNN) Shares Bought by State Street Corp

State Street Corp increased its stake in shares of Lindsay Corporation (NYSE:LNN) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 269,948 shares of the industrial products company’s stock after purchasing an additional 9,763 shares during the period. State Street Corp owned 2.53% of Lindsay Corporation worth $24,094,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LNN. OppenheimerFunds Inc. raised its position in shares of Lindsay Corporation by 26.6% during the 1st quarter. OppenheimerFunds Inc. now owns 4,788 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 1,006 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Lindsay Corporation by 1.6% during the 1st quarter. Teachers Advisors LLC now owns 20,768 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 337 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Lindsay Corporation by 0.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,957 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 21 shares during the last quarter. Legal & General Group Plc raised its position in shares of Lindsay Corporation by 1.1% during the 1st quarter. Legal & General Group Plc now owns 18,768 shares of the industrial products company’s stock worth $1,654,000 after purchasing an additional 197 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Lindsay Corporation by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 992,657 shares of the industrial products company’s stock worth $87,472,000 after purchasing an additional 51,592 shares during the last quarter. Hedge funds and other institutional investors own 96.96% of the company’s stock.

Shares of Lindsay Corporation (NYSE LNN) opened at $88.33 on Wednesday. Lindsay Corporation has a one year low of $72.85 and a one year high of $95.04. The stock has a market cap of $957.60, a PE ratio of 41.44, a P/E/G ratio of 2.02 and a beta of 0.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.25 and a current ratio of 3.18.

Lindsay Corporation (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 12th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.18. Lindsay Corporation had a net margin of 4.47% and a return on equity of 8.95%. The company had revenue of $131.94 million during the quarter, compared to analysts’ expectations of $134.83 million. equities analysts expect that Lindsay Corporation will post 2.95 earnings per share for the current year.

The firm also recently disclosed 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 of this dividend is Wednesday, November 15th. This represents a $1.20 annualized dividend and a yield of 1.36%. Lindsay Corporation’s dividend payout ratio is presently 55.56%.

LNN has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Monday, July 31st. TheStreet cut shares of Lindsay Corporation from a “b” rating to a “c+” rating in a research note on Thursday, October 12th. Stifel Nicolaus set a $76.00 price objective on shares of Lindsay Corporation and gave the company a “hold” rating in a research note on Friday, August 18th. Piper Jaffray Companies set a $80.00 price objective on shares of Lindsay Corporation and gave the company a “hold” rating in a research note on Saturday, August 5th. Finally, BidaskClub cut shares of Lindsay Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. One research 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 has a consensus rating of “Hold” and a consensus price target of $95.00.

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Lindsay Corporation Company 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.

Institutional Ownership by Quarter for Lindsay Corporation (NYSE:LNN)

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