Swiss National Bank reduced its position in shares of Lindsay Corp. (NYSE:LNN) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 20,400 shares of the company’s stock after selling 400 shares during the period. Swiss National Bank owned about 0.19% of Lindsay Corp. worth $1,384,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in LNN. 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 worth $205,000 after buying an additional 455 shares during 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 worth $262,000 after buying an additional 100 shares during the last quarter. First Midwest Bank Trust Division increased its position in shares of Lindsay Corp. by 45.1% in the second quarter. First Midwest Bank Trust Division now owns 4,091 shares of the company’s stock worth $278,000 after buying an additional 1,272 shares during 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 worth $298,000 after buying an additional 288 shares during the last quarter. Finally, Mariner Wealth Advisors LLC acquired a new position in shares of Lindsay Corp. during the first quarter worth approximately $353,000.
Lindsay Corp. (NYSE:LNN) traded down 0.76% during mid-day trading on Thursday, hitting $72.77. 47,219 shares of the stock traded hands. The stock has a market cap of $773.55 million, a P/E ratio of 87.46 and a beta of 0.92. Lindsay Corp. has a 12 month low of $62.99 and a 12 month high of $79.27. The stock has a 50-day moving average price of $72.05 and a 200-day moving average price of $71.51.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.58%. Lindsay Corp.’s dividend payout ratio (DPR) is presently 133.33%.
A number of brokerages recently commented on LNN. TheStreet downgraded shares of Lindsay Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Stifel Nicolaus downgraded shares of Lindsay Corp. from a “hold” rating to a “sell” rating and set a $64.00 price target for the company. in a report on Thursday, June 2nd. Finally, Zacks Investment Research downgraded shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Lindsay Corp. currently has a consensus rating of “Hold” and a consensus target price of $71.57.
About Lindsay Corp.
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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