Integrity Alliance LLC. Invests $290,000 in Lindsay Corporation $LNN

Key Points

• Integrity Alliance LLC invested approximately $290,000 in Lindsay Corporation by acquiring 2,294 shares during the first quarter, highlighting growing institutional interest in the company.
• Lindsay Corporation reported $1.78 earnings per share for the last quarter, surpassing analysts' expectations of $1.36, leading to a year-over-year revenue increase of 21.8%.
• Stifel Nicolaus raised Lindsay's price target from $128.00 to $136.00 and maintained a "hold" rating, reflecting cautious optimism among analysts regarding the stock.

Integrity Alliance LLC. acquired a new position in shares of Lindsay Corporation (NYSE:LNN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,294 shares of the industrial products company's stock, valued at approximately $290,000.

A number of other institutional investors have also recently added to or reduced their stakes in LNN. Banque Cantonale Vaudoise purchased a new stake in shares of Lindsay in the first quarter valued at about $31,000. State of Wyoming purchased a new stake in shares of Lindsay in the first quarter valued at about $52,000. GAMMA Investing LLC lifted its holdings in shares of Lindsay by 55.8% in the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 154 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Lindsay in the first quarter valued at about $200,000. Finally, XTX Topco Ltd purchased a new stake in shares of Lindsay in the first quarter valued at about $221,000. Hedge funds and other institutional investors own 89.94% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped 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 analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $136.00.

Lindsay Price Performance

LNN opened at $139.67 on Friday. The company has a fifty day simple moving average of $138.44 and a 200 day simple moving average of $134.77. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 20.07 and a beta of 0.82. Lindsay Corporation has a twelve month low of $112.14 and a twelve month high of $150.96. 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 (NYSE:LNN - Get Free Report) last released its quarterly 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 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% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. Equities research analysts expect 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. Stockholders of record on Friday, August 15th were given a $0.37 dividend. 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 an increase from Lindsay's previous quarterly dividend of $0.36. Lindsay's payout ratio is 21.26%.

Insider Transactions at Lindsay

In other news, Director Robert E. Brunner sold 1,856 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total value of $263,700.48. Following the transaction, the director directly owned 3,274 shares in the company, valued at approximately $465,169.92. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian L. Ketcham sold 3,999 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $149.09, for a total transaction of $596,210.91. Following the completion of the sale, the chief financial officer directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,187 shares of company stock worth $1,049,162. Insiders own 1.70% of the company's stock.

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.

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