Inspire Investing LLC lowered its stake in Lindsay Corporation (NYSE:LNN – Free Report) by 18.6% during the first quarter, Holdings Channel reports. The institutional investor owned 2,793 shares of the industrial products company’s stock after selling 638 shares during the period. Inspire Investing LLC’s holdings in Lindsay were worth $353,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of LNN. Banque Cantonale Vaudoise bought a new stake in Lindsay in the 1st quarter valued at about $31,000. State of Wyoming bought a new position in Lindsay in the 1st quarter valued at approximately $52,000. GAMMA Investing LLC lifted its stake in Lindsay by 55.8% in 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. Mutual of America Capital Management LLC bought a new stake in shares of Lindsay in the 1st quarter valued at about $200,000. Finally, XTX Topco Ltd acquired a new position in Lindsay in the first quarter valued at $221,000. Institutional investors own 89.94% of the company’s stock.
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Lindsay Stock Performance
Shares of LNN stock opened at $139.67 on Monday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 20.07 and a beta of 0.82. The company has a current ratio of 3.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $138.44 and its 200 day moving average is $134.78. Lindsay Corporation has a 12 month low of $112.14 and a 12 month high of $150.96.
Lindsay (NYSE:LNN – Get Free Report) last posted its earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.42. Lindsay had a net margin of 11.21% and a return on equity of 15.09%. The business had revenue of $169.46 million for the quarter, compared to analyst estimates of $157.87 million. During the same quarter in the prior year, the firm posted $1.85 EPS. Lindsay’s revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that Lindsay Corporation will post 5.82 earnings per share for the current year.
Lindsay Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 15th. This is a positive change from Lindsay’s previous quarterly dividend of $0.36. Lindsay’s dividend payout ratio (DPR) is 21.26%.
Analysts Set New Price Targets
Separately, Stifel Nicolaus lifted their price objective on shares of Lindsay from $128.00 to $136.00 and gave the company a “hold” rating in a report on Friday, June 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $136.00.
Read Our Latest Stock Report on LNN
Insider Transactions at Lindsay
In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director directly owned 3,274 shares in the company, valued at approximately $465,169.92. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian L. Ketcham sold 3,999 shares of Lindsay stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $149.09, for a total transaction of $596,210.91. Following the completion of the sale, the chief financial officer owned 9,621 shares of the company’s stock, valued at $1,434,394.89. This represents a 29.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,187 shares of company stock valued at $1,049,162. 1.70% of the stock is owned by company insiders.
About Lindsay
(Free Report)
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.
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