Public Sector Pension Investment Board Increases Stock Position in Lindsay Corporation $LNN

Public Sector Pension Investment Board increased its position in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 27.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,430 shares of the industrial products company's stock after purchasing an additional 7,400 shares during the period. Public Sector Pension Investment Board owned approximately 0.32% of Lindsay worth $4,356,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LNN. Banque Cantonale Vaudoise purchased a new stake in Lindsay in the 1st quarter valued at about $31,000. GAMMA Investing LLC boosted its position 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 buying an additional 154 shares during the period. Mutual of America Capital Management LLC purchased a new stake in Lindsay in the 1st quarter valued at about $200,000. Tower Research Capital LLC TRC boosted its position in Lindsay by 729.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock valued at $202,000 after buying an additional 1,503 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new stake in Lindsay in the 4th quarter valued at about $215,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lindsay

In other news, CFO Brian L. Ketcham sold 3,999 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total value of $596,210.91. Following the sale, the chief financial officer directly owned 9,621 shares of the company's stock, valued at $1,434,394.89. This represents a 29.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert E. Brunner sold 1,856 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director directly 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 disclosure for this sale can be found here. Insiders sold a total of 7,187 shares of company stock worth $1,049,162 over the last ninety days. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

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

Lindsay Stock Performance

Shares of NYSE LNN traded down $0.7850 during mid-day trading on Thursday, hitting $137.7450. The stock had a trading volume of 34,414 shares, compared to its average volume of 96,849. The firm has a market cap of $1.50 billion, a PE ratio of 19.84 and a beta of 0.81. 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 company has a 50 day moving average of $138.77 and a two-hundred day moving average of $134.03. Lindsay Corporation has a twelve month low of $112.14 and a twelve month high of $150.96.

Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share for the quarter, beating 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 the consensus estimate of $157.87 million. During the same quarter in the previous year, the business earned $1.85 EPS. The company's quarterly revenue was up 21.8% compared to the same quarter last year. Research analysts predict that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Lindsay Increases Dividend

The firm also recently disclosed 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 is an increase from Lindsay's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. Lindsay's payout ratio is currently 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.