Laurion Capital Management LP bought a new position in shares of Lindsay Co. (NYSE:LNN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,000 shares of the industrial products company’s stock, valued at approximately $291,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Lindsay by 225.4% in the first quarter. Royal Bank of Canada now owns 1,165 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 807 shares in the last quarter. Sei Investments Co. acquired a new position in Lindsay during the first quarter worth about $154,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Lindsay during the second quarter worth about $221,000. Crossmark Global Holdings Inc. bought a new stake in shares of Lindsay during the second quarter worth about $222,000. Finally, SG Americas Securities LLC bought a new stake in shares of Lindsay during the second quarter worth about $239,000. 92.90% of the stock is owned by institutional investors.
LNN traded up $2.09 during trading on Friday, hitting $92.61. The company’s stock had a trading volume of 71,472 shares, compared to its average volume of 81,644. Lindsay Co. has a twelve month low of $83.57 and a twelve month high of $105.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.71 and a current ratio of 3.55. The firm has a market cap of $1.07 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 1.56 and a beta of 0.30.
In other news, Director Bill Welsh sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $93.52, for a total transaction of $280,560.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.
LNN has been the topic of several research reports. ValuEngine upgraded Lindsay from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Monness Crespi & Hardt set a $70.00 price target on Lindsay and gave the stock a “sell” rating in a report on Wednesday, September 19th. TheStreet upgraded Lindsay from a “c+” rating to a “b+” rating in a report on Thursday, June 28th. Zacks Investment Research upgraded Lindsay from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, Stifel Nicolaus upped their target price on Lindsay from $91.00 to $92.00 and gave the company a “hold” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $91.33.
Lindsay Company Profile
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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