Aristides Capital LLC Makes New $268,000 Investment in Lindsay Corporation $LNN

Key Points

• Aristides Capital LLC has made a new investment of $268,000 in Lindsay Corporation (NYSE:LNN), acquiring 2,121 shares during the first quarter.
• Insiders at Lindsay have sold a total of 7,187 shares valued at over $1 million in the last quarter, indicating potential concerns about the company's stock performance.
• Lindsay Corporation reported strong quarterly earnings of $1.78 EPS, exceeding estimates, and announced a dividend increase from $0.36 to $0.37 per share.

Aristides Capital LLC purchased a new stake in Lindsay Corporation (NYSE:LNN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,121 shares of the industrial products company's stock, valued at approximately $268,000.

Several other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in shares of Lindsay during the 1st quarter worth $31,000. GAMMA Investing LLC lifted its holdings in shares of Lindsay by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock worth $54,000 after acquiring an additional 154 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Lindsay during the 1st quarter worth $200,000. Tower Research Capital LLC TRC lifted its holdings in shares of Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock worth $202,000 after acquiring an additional 1,503 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Lindsay during the 1st quarter worth $221,000. 89.94% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Robert E. Brunner sold 1,856 shares of the business'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 transaction, the director owned 3,274 shares in the company, valued at $465,169.92. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian L. Ketcham sold 3,999 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total transaction of $596,210.91. Following the transaction, the chief financial officer owned 9,621 shares in the company, valued at $1,434,394.89. This represents a 29.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,187 shares of company stock worth $1,049,162 in the last quarter. 1.70% of the stock is owned by corporate insiders.

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 stock a "hold" rating in a report on Friday, June 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $136.00.

Lindsay Trading Down 1.5%

Shares of NYSE:LNN traded down $2.11 during midday trading on Friday, hitting $137.30. 91,321 shares of the stock traded hands, compared to its average volume of 96,937. The stock has a market capitalization of $1.49 billion, a PE ratio of 19.73 and a beta of 0.81. The business's 50 day moving average is $139.35 and its two-hundred day moving average is $134.40. The company has a quick ratio of 2.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.22. Lindsay Corporation has a one year low of $112.14 and a one year high of $150.96.

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

Lindsay Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.37 per share. This is an increase from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. Lindsay's dividend payout ratio is presently 21.26%.

About Lindsay

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.