Charles Schwab Investment Management Inc. Buys 2,674 Shares of Lindsay Corporation $LNN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Lindsay Corporation by 1.9%, acquiring an additional 2,674 shares, bringing their total ownership to 140,766 shares valued at approximately $17.81 million.
• Analysts are optimistic about Lindsay, with Stifel Nicolaus raising the target price from $128.00 to $136.00 while maintaining a "hold" rating for the stock.
• Lindsay Corporation recently declared a quarterly dividend of $0.37 per share, up from the previous $0.36, marking a yield of 1.0% and a payout ratio of 21.26%.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 1.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 140,766 shares of the industrial products company's stock after acquiring an additional 2,674 shares during the period. Charles Schwab Investment Management Inc. owned 1.30% of Lindsay worth $17,810,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of Lindsay by 55.8% in the 1st 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Lindsay by 82.2% in 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 buying an additional 19,233 shares during the period. Mutual of America Capital Management LLC bought a new position in Lindsay during the first quarter worth about $200,000. Victory Capital Management Inc. grew its position in shares of Lindsay by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company's stock worth $1,365,000 after buying an additional 76 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Lindsay by 48.5% in the 4th quarter. Deutsche Bank AG now owns 10,572 shares of the industrial products company's stock valued at $1,251,000 after acquiring an additional 3,454 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Stock Performance

Lindsay stock traded down $3.3350 during midday trading on Monday, reaching $139.7350. 101,783 shares of the company's stock were exchanged, compared to its average volume of 76,105. The stock's 50-day simple moving average is $138.99 and its 200 day simple moving average is $134.19. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 20.56 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.64 and a current ratio of 3.64. Lindsay Corporation has a 52 week low of $112.14 and a 52 week high of $150.96.

Lindsay (NYSE:LNN - Get Free Report) last released 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. The company had revenue of $169.46 million during the quarter, compared to analysts' expectations of $157.87 million. Lindsay had a return on equity of 15.09% and a net margin of 11.21%.The business's revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm posted $1.85 earnings per share. On average, analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current fiscal 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 dividend of $0.37 per share. The ex-dividend date is Friday, August 15th. This is a positive change from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 1.1%. Lindsay's dividend payout ratio is currently 21.26%.

Insider Transactions at Lindsay

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

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their price target 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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average 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.