California Public Employees Retirement System decreased its stake in Lindsay Corp. (NYSE:LNN) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,100 shares of the company’s stock after selling 800 shares during the period. California Public Employees Retirement System owned about 0.28% of Lindsay Corp. worth $2,043,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in LNN. Aperio Group LLC increased its position in shares of Lindsay Corp. by 0.4% in the first quarter. Aperio Group LLC now owns 11,196 shares of the company’s stock valued at $802,000 after buying an additional 48 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Lindsay Corp. by 2.7% in the second quarter. Capstone Asset Management Co. now owns 3,868 shares of the company’s stock valued at $262,000 after buying an additional 100 shares in the last quarter. Cardinal Capital Management increased its position in shares of Lindsay Corp. by 7.0% in the second quarter. Cardinal Capital Management now owns 4,388 shares of the company’s stock valued at $298,000 after buying an additional 288 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Lindsay Corp. by 1.5% in the first quarter. Prudential Financial Inc. now owns 26,776 shares of the company’s stock valued at $1,917,000 after buying an additional 400 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Lindsay Corp. by 19.2% in the first quarter. Legal & General Group Plc now owns 2,827 shares of the company’s stock valued at $205,000 after buying an additional 455 shares in the last quarter.
Shares of Lindsay Corp. (NYSE:LNN) traded up 0.44% during mid-day trading on Wednesday, hitting $73.41. 38,150 shares of the stock traded hands. The stock has a 50-day moving average of $72.34 and a 200-day moving average of $71.39. The company has a market cap of $780.35 million, a price-to-earnings ratio of 88.23 and a beta of 0.82. Lindsay Corp. has a 52 week low of $62.99 and a 52 week high of $79.27.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s dividend payout ratio (DPR) is presently 133.33%.
Several brokerages recently issued reports on LNN. Zacks Investment Research downgraded Lindsay Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 8th. TheStreet downgraded Lindsay Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $71.57.
Lindsay Corp. Company Profile
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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