American Century Companies Inc. Purchases 2,065 Shares of Lindsay Corporation $LNN

Key Points

• American Century Companies Inc. raised its stake in Lindsay Corporation to 45,867 shares, now valued at approximately $5.80 million, reflecting a 4.7% increase during the 1st quarter.
• Lindsay Corporation reported an earnings per share (EPS) of $1.78 for the last quarter, surpassing the estimated $1.36, with a revenue of $169.46 million, up 21.8% compared to the previous year.
• The board of Lindsay Corporation announced a $0.37 quarterly dividend with a yield of 1.1%, indicating a positive increase from the previous dividend of $0.36.

American Century Companies Inc. grew its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,867 shares of the industrial products company's stock after acquiring an additional 2,065 shares during the quarter. American Century Companies Inc. owned 0.42% of Lindsay worth $5,803,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. KBC Group NV raised its stake in Lindsay by 1.4% during the first quarter. KBC Group NV now owns 353,238 shares of the industrial products company's stock worth $44,692,000 after acquiring an additional 4,724 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Lindsay by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 345,943 shares of the industrial products company's stock valued at $40,929,000 after buying an additional 2,207 shares during the last quarter. Jennison Associates LLC raised its holdings in Lindsay by 404.3% in the 1st quarter. Jennison Associates LLC now owns 216,878 shares of the industrial products company's stock valued at $27,439,000 after buying an additional 173,872 shares during the last quarter. Invesco Ltd. boosted its position in Lindsay by 3.0% during the 1st quarter. Invesco Ltd. now owns 161,672 shares of the industrial products company's stock worth $20,455,000 after buying an additional 4,783 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Lindsay by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 146,122 shares of the industrial products company's stock worth $17,288,000 after acquiring an additional 7,952 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

Insider Buying and Selling

In other Lindsay 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 transaction, the director directly owned 3,274 shares in the company, valued at approximately $465,169.92. This represents a 36.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian L. Ketcham sold 3,999 shares of the 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 completion of the transaction, the chief financial officer owned 9,621 shares in the company, valued at approximately $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. Insiders have sold a total of 7,187 shares of company stock worth $1,049,162 over the last 90 days. Company insiders own 1.70% of the company's stock.

Lindsay Trading Down 0.3%

NYSE:LNN traded down $0.46 on Wednesday, reaching $136.56. 69,901 shares of the stock traded hands, compared to its average volume of 76,344. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 19.62 and a beta of 0.82. The company's 50 day moving average is $139.37 and its 200-day moving average is $134.56. 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 Corporation has a 1-year low of $112.14 and a 1-year high of $150.96.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.42. The business had revenue of $169.46 million during 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 company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. Equities research analysts anticipate 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. Shareholders of record on Friday, August 15th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis 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 currently 21.26%.

Analyst Ratings Changes

Separately, 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. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $136.00.

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.