KBC Group NV Raises Holdings in Lindsay Corporation (NYSE:LNN)

KBC Group NV raised its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 353,238 shares of the industrial products company's stock after buying an additional 4,724 shares during the period. KBC Group NV owned about 3.25% of Lindsay worth $44,692,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Lindsay by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company's stock valued at $6,368,000 after acquiring an additional 1,324 shares during the period. John G Ullman & Associates Inc. grew its holdings in Lindsay by 0.8% during the fourth quarter. John G Ullman & Associates Inc. now owns 59,375 shares of the industrial products company's stock valued at $7,025,000 after purchasing an additional 500 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Lindsay by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,092 shares of the industrial products company's stock valued at $16,338,000 after purchasing an additional 5,140 shares during the period. Keybank National Association OH increased its position in Lindsay by 23.5% in the fourth quarter. Keybank National Association OH now owns 3,775 shares of the industrial products company's stock worth $447,000 after buying an additional 718 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Lindsay in the fourth quarter worth about $611,000. 89.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on LNN. Stifel Nicolaus boosted their price objective on Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a research note on Friday, June 27th. Wall Street Zen upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th.

Insider Transactions at Lindsay

In other news, CFO Brian L. Ketcham sold 3,999 shares of Lindsay stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total transaction of $596,210.91. Following the sale, the chief financial officer owned 9,621 shares in the company, valued at $1,434,394.89. This trade represents a 29.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Lindsay Price Performance

Lindsay stock traded up $1.18 during mid-day trading on Thursday, hitting $148.29. The stock had a trading volume of 237,756 shares, compared to its average volume of 92,987. 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's 50 day moving average is $137.03 and its 200 day moving average is $131.16. The firm has a market capitalization of $1.61 billion, a P/E ratio of 21.31 and a beta of 0.82. Lindsay Corporation has a one year low of $109.27 and a one year high of $150.96.

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

Lindsay Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a 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 dividend payout ratio is presently 20.69%.

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.