Corton Capital Inc. Purchases New Shares in Lindsay Corporation $LNN

Corton Capital Inc. purchased a new stake in Lindsay Corporation (NYSE:LNN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,960 shares of the industrial products company’s stock, valued at approximately $283,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. USA Financial Formulas purchased a new stake in Lindsay in the 2nd quarter valued at $26,000. Banque Cantonale Vaudoise purchased a new stake in shares of Lindsay during the 1st quarter valued at $31,000. State of Wyoming purchased a new stake in shares of Lindsay during the 1st quarter valued at $52,000. GAMMA Investing LLC increased its position in shares of Lindsay by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 154 shares during the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Lindsay during the 2nd quarter valued at $217,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LNN has been the subject of several research analyst reports. Wall Street Zen lowered Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Stifel Nicolaus set a $122.00 price target on Lindsay in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research report on Friday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $122.00.

Insider Transactions at Lindsay

In other news, Director Robert E. Brunner sold 1,856 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director owned 3,274 shares of the company’s stock, valued at approximately $465,169.92. This represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Lindsay Stock Up 1.0%

Shares of NYSE LNN opened at $111.25 on Monday. Lindsay Corporation has a 12 month low of $108.70 and a 12 month high of $150.96. The company has a current ratio of 3.71, a quick ratio of 2.76 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.41 and a beta of 0.82. The business has a 50-day moving average of $134.03 and a 200-day moving average of $135.99.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.05). The business had revenue of $153.56 million for the quarter, compared to analysts’ expectations of $156.91 million. Lindsay had a return on equity of 14.33% and a net margin of 10.95%.The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. Sell-side analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 1.3%. Lindsay’s dividend payout ratio is currently 21.83%.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.