Jackson Creek Investment Advisors LLC Makes New Investment in Lindsay Corporation $LNN

Jackson Creek Investment Advisors LLC purchased a new position in shares of Lindsay Corporation (NYSE:LNN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,991 shares of the industrial products company’s stock, valued at approximately $1,767,000. Jackson Creek Investment Advisors LLC owned 0.14% of Lindsay as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in Lindsay by 5.6% during the 2nd quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock worth $68,342,000 after acquiring an additional 25,251 shares during the period. Invesco Ltd. boosted its position in Lindsay by 32.6% during the 3rd quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock worth $28,953,000 after acquiring an additional 50,671 shares during the period. First Trust Advisors LP boosted its position in Lindsay by 4.9% during the 3rd quarter. First Trust Advisors LP now owns 191,820 shares of the industrial products company’s stock worth $26,962,000 after acquiring an additional 8,985 shares during the period. Legal & General Group Plc boosted its position in Lindsay by 2.3% during the 4th quarter. Legal & General Group Plc now owns 160,199 shares of the industrial products company’s stock worth $18,883,000 after acquiring an additional 3,602 shares during the period. Finally, Lightrock Netherlands B.V. boosted its position in Lindsay by 5.2% during the 4th quarter. Lightrock Netherlands B.V. now owns 132,415 shares of the industrial products company’s stock worth $15,608,000 after acquiring an additional 6,500 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Stock Up 1.7%

Shares of Lindsay stock opened at $111.05 on Wednesday. The stock’s fifty day moving average is $111.10 and its 200-day moving average is $119.08. The firm has a market capitalization of $1.15 billion, a PE ratio of 20.34 and a beta of 0.73. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. Lindsay Corporation has a 12-month low of $97.27 and a 12-month high of $150.96.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.45). The business had revenue of $157.72 million for the quarter, compared to analyst estimates of $163.52 million. Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. Equities analysts anticipate that Lindsay Corporation will post 5.19 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $0.37 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. Lindsay’s payout ratio is 27.11%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LNN shares. Weiss Ratings lowered Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Stifel Nicolaus cut their price objective on Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Zacks Research lowered Lindsay from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lindsay presently has a consensus rating of “Reduce” and an average price target of $113.00.

About Lindsay

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.