NFJ Investment Group LLC Makes New $1.50 Million Investment in Lindsay Corporation $LNN

Key Points

• NFJ Investment Group LLC acquired 11,860 shares of Lindsay Corporation worth approximately $1.5 million, representing a 0.11% ownership stake as of their latest SEC filing.
• Lindsay Corporation reported earnings of $1.78 per share for the last quarter, outperforming analysts' expectations and marking a 21.8% increase in revenue compared to the previous year.
• The company recently increased its quarterly dividend from $0.36 to $0.37, reflecting a 1.1% yield based on an annualized dividend of $1.48.

NFJ Investment Group LLC acquired a new position in Lindsay Corporation (NYSE:LNN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,860 shares of the industrial products company's stock, valued at approximately $1,501,000. NFJ Investment Group LLC owned 0.11% of Lindsay at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Lindsay by 55.8% during the first 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lindsay by 82.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,626 shares of the industrial products company's stock valued at $5,393,000 after purchasing an additional 19,233 shares during the period. Victory Capital Management Inc. grew its holdings in Lindsay by 0.7% during the first quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company's stock valued at $1,365,000 after purchasing an additional 76 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of Lindsay in the first quarter worth about $200,000. Finally, Deutsche Bank AG boosted its stake in shares of Lindsay by 48.5% in the fourth quarter. Deutsche Bank AG now owns 10,572 shares of the industrial products company's stock worth $1,251,000 after acquiring an additional 3,454 shares during the period. Institutional investors own 89.94% of the company's stock.

Lindsay Price Performance

Shares of NYSE:LNN traded up $2.49 during mid-day trading on Thursday, reaching $140.14. The stock had a trading volume of 47,986 shares, compared to its average volume of 95,914. 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 company has a market cap of $1.52 billion, a P/E ratio of 20.13 and a beta of 0.82. Lindsay Corporation has a 1 year low of $112.14 and a 1 year high of $150.96. The business's 50 day moving average price is $138.76 and its 200 day moving average price is $134.65.

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

Lindsay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.37 dividend. The ex-dividend date was Friday, August 15th. This is a positive change from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. Lindsay's dividend payout ratio (DPR) is currently 21.26%.

Insider Activity 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 value of $263,700.48. Following the sale, the director directly owned 3,274 shares in the company, valued at approximately $465,169.92. This represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian L. Ketcham sold 3,999 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $149.09, for a total value of $596,210.91. Following the transaction, the chief financial officer owned 9,621 shares in the company, valued at $1,434,394.89. The trade was a 29.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,187 shares of company stock worth $1,049,162. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped their price objective on Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $136.00.

Lindsay 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.