Amundi Trims Stock Holdings in Lindsay Corporation $LNN

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

A number of other institutional investors have also recently added to or reduced their stakes in the stock. 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 valued at $1,365,000 after acquiring an additional 76 shares during the period. GAMMA Investing LLC grew its stake in Lindsay by 55.8% in the 1st 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 during the period. Banque Cantonale Vaudoise acquired a new stake in Lindsay in the 1st quarter valued at $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Lindsay by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,166 shares of the industrial products company's stock valued at $729,000 after acquiring an additional 259 shares during the period. Finally, Union Bancaire Privee UBP SA grew its stake in Lindsay by 4.7% in the 1st quarter. Union Bancaire Privee UBP SA now owns 5,918 shares of the industrial products company's stock valued at $775,000 after acquiring an additional 265 shares during the period. Institutional investors and hedge funds own 89.94% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Lindsay

In other news, CFO Brian L. Ketcham sold 3,999 shares of Lindsay stock in a transaction on 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert E. Brunner sold 1,856 shares of Lindsay stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total value of $263,700.48. Following the transaction, the director owned 3,274 shares in the company, valued at approximately $465,169.92. This represents a 36.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,187 shares of company stock worth $1,049,162. Insiders own 1.70% of the company's stock.

Lindsay Price Performance

LNN traded down $1.15 on Friday, hitting $139.67. 120,171 shares of the company's stock were exchanged, compared to its average volume of 77,607. Lindsay Corporation has a fifty-two week low of $112.14 and a fifty-two week 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 firm has a 50-day moving average price of $138.44 and a 200-day moving average price of $134.75. The stock has a market cap 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 posted its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $157.87 million. During the same quarter in the previous year, the firm earned $1.85 EPS. The company's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts anticipate 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 was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. This is a boost from Lindsay's previous quarterly dividend of $0.36. Lindsay's payout ratio is presently 21.26%.

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.