Lindsay Corporation $LNN Shares Sold by Amundi

Amundi decreased its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 31.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,180 shares of the industrial products company's stock after selling 65,331 shares during the period. Amundi owned about 1.30% of Lindsay worth $17,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew 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 valued at $54,000 after buying an additional 154 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lindsay by 82.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,626 shares of the industrial products company's stock valued at $5,393,000 after purchasing an additional 19,233 shares during the last quarter. Victory Capital Management Inc. grew its stake in Lindsay by 0.7% in the 1st quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company's stock worth $1,365,000 after acquiring an additional 76 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in Lindsay in the 1st quarter worth about $200,000. Finally, Deutsche Bank AG grew its stake in Lindsay by 48.5% in the 4th quarter. Deutsche Bank AG now owns 10,572 shares of the industrial products company's stock worth $1,251,000 after acquiring an additional 3,454 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Insider Buying and Selling at Lindsay

In other news, Director Robert E. Brunner sold 1,856 shares of Lindsay 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 sale, the director owned 3,274 shares in the company, valued at $465,169.92. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian L. Ketcham sold 3,999 shares of Lindsay stock in a transaction dated Tuesday, July 1st. The shares were 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 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. In the last 90 days, insiders have sold 7,187 shares of company stock worth $1,049,162. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price objective on shares of Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $136.00.

Lindsay Stock Performance

Shares of Lindsay stock traded down $1.15 during trading on Friday, hitting $139.67. 120,171 shares of the company's stock were exchanged, compared to its average volume of 77,607. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.64 and a current ratio of 3.64. The business has a 50-day simple moving average of $138.44 and a 200-day simple moving average of $134.77. Lindsay Corporation has a 52-week low of $112.14 and a 52-week high of $150.96. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 20.07 and a beta of 0.82.

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

Lindsay Increases Dividend

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

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.