Lindsay Corporation (NYSE:LNN) Shares Acquired by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. increased its stake in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 28.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,415 shares of the industrial products company's stock after purchasing an additional 27,566 shares during the quarter. Lindsay makes up approximately 4.1% of Lightrock Netherlands B.V.'s holdings, making the stock its 4th largest holding. Lightrock Netherlands B.V. owned 1.14% of Lindsay worth $15,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new position in Lindsay during the 4th quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in Lindsay by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock worth $54,000 after purchasing an additional 154 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock worth $202,000 after purchasing an additional 1,503 shares during the last quarter. Gitterman Wealth Management LLC increased its holdings in Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock worth $207,000 after purchasing an additional 101 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in Lindsay during the 4th quarter worth approximately $215,000. Hedge funds and other institutional investors own 89.94% of the company's stock.

Insider Buying and Selling at Lindsay

In other news, CFO Brian L. Ketcham sold 3,999 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 directly owned 9,621 shares in the company, valued at approximately $1,434,394.89. The trade was a 29.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company's stock.

Lindsay Stock Up 0.8%

LNN stock traded up $1.18 during midday trading on Friday, hitting $148.29. 237,756 shares of the company's stock were exchanged, compared to its average volume of 81,713. Lindsay Corporation has a 12-month low of $109.27 and a 12-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. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 21.31 and a beta of 0.82. The firm has a 50 day moving average price of $137.79 and a 200-day moving average price of $131.56.

Lindsay (NYSE:LNN - Get Free Report) last issued 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. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. The business had revenue of $169.46 million during the quarter, compared to the consensus estimate of $157.87 million. During the same period in the previous year, the business earned $1.85 EPS. The business's quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts anticipate that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.00%. This is an increase from Lindsay's previous quarterly dividend of $0.36. The ex-dividend date is Friday, August 15th. Lindsay's payout ratio is 20.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LNN shares. Stifel Nicolaus lifted their price objective on Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a 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 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.