Impax Asset Management Group plc Decreases Stake in Lindsay Corporation (NYSE:LNN)

Impax Asset Management Group plc lessened its stake in Lindsay Corporation (NYSE:LNN - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Lindsay by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company's stock valued at $149,091,000 after purchasing an additional 10,649 shares in the last quarter. KBC Group NV raised its position in shares of 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 purchasing an additional 4,724 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 2,207 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Lindsay by 37.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company's stock worth $39,164,000 after purchasing an additional 89,373 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Lindsay by 3.7% during the fourth quarter. First Trust Advisors LP now owns 207,403 shares of the industrial products company's stock worth $24,538,000 after buying an additional 7,362 shares in the last quarter. Institutional investors own 89.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LNN. Wall Street Zen raised Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus increased 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.

Lindsay Stock Down 1.7%

LNN traded down $2.58 on Monday, hitting $145.71. 278,750 shares of the company were exchanged, compared to its average volume of 82,501. The company has a market cap of $1.58 billion, a PE ratio of 20.94 and a beta of 0.82. 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 12 month low of $109.27 and a 12 month high of $150.96. The stock's fifty day moving average is $137.79 and its 200-day moving average is $131.56.

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

Lindsay Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.37 dividend. The ex-dividend date is Friday, August 15th. This is an increase from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 1.02%. Lindsay's dividend payout ratio (DPR) is currently 20.69%.

Insider Transactions at Lindsay

In other Lindsay 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 sale, the chief financial officer owned 9,621 shares in the company, valued at approximately $1,434,394.89. This trade represents a 29.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

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.