Lindsay Corporation (NYSE:LNN) CFO Sells 3,999 Shares

Lindsay Corporation (NYSE:LNN - Get Free Report) CFO Brian L. Ketcham sold 3,999 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total transaction of $596,210.91. Following the sale, the chief financial officer directly owned 9,621 shares in the company, valued at approximately $1,434,394.89. The trade was a 29.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lindsay Trading Down 1.0%

NYSE:LNN traded down $1.48 during midday trading on Wednesday, hitting $146.08. 5,026 shares of the company traded hands, compared to its average volume of 80,035. The firm has a market capitalization of $1.59 billion, a P/E ratio of 21.03 and a beta of 0.82. The firm's fifty day moving average is $136.60 and its 200-day moving average is $131.05. Lindsay Corporation has a 12-month low of $109.27 and a 12-month high of $150.96. The company has a current ratio of 3.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22.

Lindsay (NYSE:LNN - Get Free Report) last announced its earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.42. The business had revenue of $169.46 million for the quarter, compared to the consensus estimate of $157.87 million. Lindsay had a net margin of 11.21% and a return on equity of 15.09%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. On average, sell-side analysts predict that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.37 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.48 annualized dividend and a yield of 1.01%. This is an increase from Lindsay's previous quarterly dividend of $0.36. Lindsay's dividend payout ratio (DPR) is presently 20.48%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LNN. Stifel Nicolaus boosted their target price on shares of Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a report on Friday, June 27th. Wall Street Zen raised Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new stake in shares of Lindsay in the first quarter worth approximately $31,000. AlphaQuest LLC bought a new position in Lindsay in the 4th quarter valued at $32,000. State of Wyoming purchased a new stake in Lindsay in the first quarter worth $52,000. GAMMA Investing LLC lifted its position in shares of Lindsay by 55.8% during the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock worth $54,000 after purchasing an additional 154 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Lindsay during the first quarter worth $200,000. Hedge funds and other institutional investors own 89.94% of the company's stock.

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.