Impax Asset Management Group plc Sells 9,840 Shares of Lindsay Corporation (NYSE:LNN)

Impax Asset Management Group plc decreased its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 13.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,768 shares of the industrial products company's stock after selling 9,840 shares during the quarter. Impax Asset Management Group plc owned about 0.58% of Lindsay worth $7,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LNN. Corient Private Wealth LLC grew its stake in shares of Lindsay by 1.8% during the fourth quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company's stock valued at $534,000 after acquiring an additional 78 shares in the last quarter. Gitterman Wealth Management LLC boosted its stake in Lindsay by 6.1% in the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock valued at $207,000 after acquiring an additional 101 shares during the period. GAMMA Investing LLC grew 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 acquiring an additional 154 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Lindsay by 1.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock valued at $1,253,000 after acquiring an additional 177 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Lindsay by 12.8% in the fourth quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock worth $225,000 after purchasing an additional 214 shares during the period. 89.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lindsay

In related news, CFO Brian L. Ketcham sold 3,999 shares of the 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 completion of the transaction, the chief financial officer owned 9,621 shares of the company's stock, valued at $1,434,394.89. This represents a 29.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LNN. Stifel Nicolaus lifted their price target on Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a research report on Friday, June 27th. Wall Street Zen upgraded Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th.

Lindsay Stock Performance

Shares of NYSE LNN traded down $1.56 during trading hours on Wednesday, hitting $143.91. 187,716 shares of the company's stock were exchanged, compared to its average volume of 83,443. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.64 and a quick ratio of 2.64. The company's 50-day moving average price is $138.47 and its 200-day moving average price is $131.82. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 20.68 and a beta of 0.82. Lindsay Corporation has a 1-year low of $109.27 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 the consensus estimate of $1.36 by $0.42. The business had revenue of $169.46 million during the quarter, compared to analysts' expectations of $157.87 million. Lindsay had a net margin of 11.21% and a return on equity of 15.09%. The firm's revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned $1.85 earnings per share. On average, sell-side analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.37 dividend. This is a boost from Lindsay's previous quarterly dividend of $0.36. The ex-dividend date is Friday, August 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.03%. Lindsay's dividend payout ratio is currently 20.69%.

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.