First Midwest Bank Trust Division increased its stake in Lindsay Corp. (NYSE:LNN) by 45.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,091 shares of the company’s stock after buying an additional 1,272 shares during the period. First Midwest Bank Trust Division’s holdings in Lindsay Corp. were worth $278,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Royce & Associates LP raised its stake in shares of Lindsay Corp. by 5.1% in the first quarter. Royce & Associates LP now owns 887,349 shares of the company’s stock valued at $63,543,000 after buying an additional 43,400 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Lindsay Corp. by 26.6% in the first quarter. Renaissance Technologies LLC now owns 266,700 shares of the company’s stock valued at $19,098,000 after buying an additional 56,000 shares during the last quarter. John G Ullman & Associates Inc. raised its stake in shares of Lindsay Corp. by 7.9% in the second quarter. John G Ullman & Associates Inc. now owns 168,757 shares of the company’s stock valued at $11,452,000 after buying an additional 12,375 shares during the last quarter. Norges Bank bought a new stake in shares of Lindsay Corp. during the fourth quarter valued at approximately $8,201,000. Finally, Fenimore Asset Management Inc. raised its stake in shares of Lindsay Corp. by 296.7% in the second quarter. Fenimore Asset Management Inc. now owns 106,465 shares of the company’s stock valued at $7,225,000 after buying an additional 79,630 shares during the last quarter.
Shares of Lindsay Corp. (NYSE:LNN) traded down 2.42% on Friday, hitting $71.28. 49,050 shares of the stock traded hands. The firm’s 50 day moving average is $72.43 and its 200-day moving average is $71.36. Lindsay Corp. has a 12 month low of $62.99 and a 12 month high of $79.27. The company has a market cap of $757.71 million, a PE ratio of 85.67 and a beta of 0.82.
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 issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Monday, November 14th. Lindsay Corp.’s dividend payout ratio is presently 133.33%.
LNN has been the subject of several recent analyst reports. TheStreet raised shares of Lindsay Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 1st. Zacks Investment Research lowered shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average 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.