Nationwide Fund Advisors cut its position in shares of Lindsay Corporation (NYSE:LNN) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,079 shares of the industrial products company’s stock after selling 152 shares during the period. Nationwide Fund Advisors owned about 0.06% of Lindsay Corporation worth $543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Lindsay Corporation by 0.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,957 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 21 shares during the period. Texas Permanent School Fund increased its position in shares of Lindsay Corporation by 0.8% during the second quarter. Texas Permanent School Fund now owns 7,761 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 65 shares during the period. Legal & General Group Plc increased its position in shares of Lindsay Corporation by 1.1% during the first quarter. Legal & General Group Plc now owns 18,768 shares of the industrial products company’s stock valued at $1,654,000 after purchasing an additional 197 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Lindsay Corporation by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock valued at $2,550,000 after purchasing an additional 238 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Lindsay Corporation by 1.6% during the first quarter. Teachers Advisors LLC now owns 20,768 shares of the industrial products company’s stock valued at $1,830,000 after purchasing an additional 337 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 annualized dividend and a yield of 1.30%. Lindsay Corporation’s dividend payout ratio is presently 55.56%.

LNN has been the topic of a number of research reports. BidaskClub cut Lindsay Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Monday, July 31st. Piper Jaffray Companies set a $80.00 price objective on Lindsay Corporation and gave the company a “hold” rating in a research report on Saturday, August 5th. Sidoti restated a “buy” rating and set a $107.00 price objective (up from $100.00) on shares of Lindsay Corporation in a research report on Friday, July 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $95.00.

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.

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

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