Lightrock Netherlands B.V. Purchases 27,566 Shares of Lindsay Corporation (NYSE:LNN)

Lightrock Netherlands B.V. boosted its stake in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 28.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,415 shares of the industrial products company's stock after acquiring an additional 27,566 shares during the quarter. Lindsay comprises about 4.1% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 4th biggest position. Lightrock Netherlands B.V. owned 1.14% of Lindsay worth $15,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in shares of Lindsay during the fourth quarter valued at approximately $32,000. Franklin Resources Inc. purchased a new position in shares of Lindsay during the fourth quarter valued at approximately $292,000. American Century Companies Inc. boosted its position in shares of Lindsay by 5.4% during the fourth quarter. American Century Companies Inc. now owns 43,802 shares of the industrial products company's stock valued at $5,182,000 after buying an additional 2,229 shares during the period. Deutsche Bank AG boosted its position in shares of Lindsay by 48.5% during the fourth quarter. Deutsche Bank AG now owns 10,572 shares of the industrial products company's stock valued at $1,251,000 after buying an additional 3,454 shares during the period. Finally, Candriam S.C.A. boosted its position in shares of Lindsay by 31.9% during the fourth quarter. Candriam S.C.A. now owns 35,174 shares of the industrial products company's stock valued at $4,161,000 after buying an additional 8,499 shares during the period. 89.94% of the stock is owned by institutional investors.

Lindsay Stock Performance

LNN traded down $0.39 during midday trading on Tuesday, hitting $145.57. 180,703 shares of the company were exchanged, compared to its average volume of 82,847. The company's 50 day simple moving average is $138.47 and its 200 day simple moving average is $131.82. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 20.92 and a beta of 0.82. 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 Corporation has a 1-year low of $109.27 and a 1-year high of $150.96.

Lindsay (NYSE:LNN - Get Free Report) last announced 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 for 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%. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. As a group, sell-side analysts predict that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Increases Dividend

The business 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 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%. The ex-dividend date is Friday, August 15th. Lindsay's dividend payout ratio (DPR) is currently 20.69%.

Insiders Place Their Bets

In other news, CFO Brian L. Ketcham sold 3,999 shares of the firm'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 sale, the chief financial officer directly owned 9,621 shares in the company, valued at $1,434,394.89. This trade represents a 29.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

LNN has been the subject of a number of research reports. Wall Street Zen upgraded Lindsay from a "hold" rating to a "buy" rating in a report 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.

Lindsay 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.