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

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 buying an additional 19,233 shares during the period. Mutual of America Capital Management LLC purchased a new stake in Lindsay during the 1st quarter valued at $200,000. Victory Capital Management Inc. raised its holdings in Lindsay by 0.7% during 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 buying an additional 76 shares during the period. Finally, Deutsche Bank AG raised its holdings in Lindsay by 48.5% during the 4th 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. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Stock Up 3.7%

Shares of LNN stock traded up $5.09 during trading hours on Friday, reaching $143.32. 29,351 shares of the company's stock were exchanged, compared to its average volume of 96,546. Lindsay Corporation has a 1 year low of $112.14 and a 1 year high of $150.96. The stock has a market cap of $1.56 billion, a PE ratio of 20.64 and a beta of 0.81. 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's fifty day moving average price is $138.81 and its two-hundred day moving average price is $134.08.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, topping 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 firm had revenue of $169.46 million during the quarter, compared to the consensus estimate of $157.87 million. During the same quarter in the previous year, the company posted $1.85 earnings per share. The company's 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 year.

Lindsay Increases Dividend

The firm 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 dividend of $0.37 per share. The ex-dividend date is Friday, August 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Lindsay's previous quarterly dividend of $0.36. Lindsay's dividend payout ratio (DPR) is currently 21.26%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus raised their price target on 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, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $136.00.

Insiders Place Their Bets

In other news, Director Robert E. Brunner sold 1,856 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the transaction, the director directly owned 3,274 shares in the company, valued at approximately $465,169.92. This represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian L. Ketcham sold 3,999 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total value of $596,210.91. Following the transaction, the chief financial officer owned 9,621 shares of the company's stock, valued at $1,434,394.89. This trade represents a 29.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,187 shares of company stock valued at $1,049,162. Company insiders own 1.70% of the company's stock.

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.