Lindsay Corporation (NYSE:LNN) Stake Lowered by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 30.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,466 shares of the industrial products company's stock after selling 7,052 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.15% of Lindsay worth $2,083,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Lindsay during the first quarter valued at about $31,000. GAMMA Investing LLC raised its position in Lindsay by 55.8% during the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock valued at $54,000 after acquiring 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 approximately $200,000. Tower Research Capital LLC TRC boosted its stake in shares of Lindsay by 729.6% in the fourth 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, Capstone Investment Advisors LLC acquired a new stake in shares of Lindsay in the fourth quarter worth approximately $215,000. 89.94% of the stock is currently owned by institutional investors.

Lindsay Price Performance

Lindsay stock traded down $0.63 during midday trading on Thursday, reaching $134.81. The company's stock had a trading volume of 23,729 shares, compared to its average volume of 98,193. The stock's 50 day simple moving average is $138.55 and its 200 day simple moving average is $133.83. The firm has a market capitalization of $1.46 billion, a PE ratio of 19.37 and a beta of 0.81. Lindsay Corporation has a fifty-two week low of $112.14 and a fifty-two week high of $150.96. 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 (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, topping the consensus estimate of $1.36 by $0.42. The company had revenue of $169.46 million during the quarter, compared to the consensus estimate of $157.87 million. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. Lindsay's revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 earnings per share. On average, equities research analysts forecast that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Increases Dividend

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

Insider Transactions at Lindsay

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

Analyst Ratings Changes

LNN has been the topic of a number of recent research reports. Wall Street Zen raised Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Stifel Nicolaus increased their price objective on Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a report on Friday, June 27th.

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.