Lindsay Corporation (NYSE:LNN) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 12.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 318,333 shares of the industrial products company's stock after selling 45,520 shares during the period. Royce & Associates LP owned approximately 2.93% of Lindsay worth $40,275,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Victory Capital Management Inc. grew its holdings in Lindsay by 0.7% during the first 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 during the period. Corient Private Wealth LLC grew its holdings in Lindsay by 1.8% during the fourth quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company's stock worth $534,000 after acquiring an additional 78 shares during the period. GAMMA Investing LLC grew its holdings in Lindsay by 55.8% during the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock worth $54,000 after acquiring an additional 154 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Lindsay by 1.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock worth $1,253,000 after acquiring an additional 177 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Lindsay by 12.8% in the fourth quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock valued at $225,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Insider Buying and Selling

In other Lindsay 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 value of $596,210.91. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Lindsay Trading Down 0.2%

NYSE LNN traded down $0.21 on Monday, reaching $137.55. 89,356 shares of the company were exchanged, compared to its average volume of 100,118. The business's fifty day moving average price is $139.13 and its 200 day moving average price is $133.51. The stock has a market capitalization of $1.49 billion, a P/E ratio of 19.76 and a beta of 0.82. The company has a current ratio of 3.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22. Lindsay Corporation has a fifty-two week low of $112.14 and a fifty-two week 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 company had revenue of $169.46 million for 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 firm's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 earnings per share. Analysts forecast that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.37 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.48 dividend on an annualized basis and a yield of 1.08%. This is an increase from Lindsay's previous quarterly dividend of $0.36. Lindsay's payout ratio is currently 20.69%.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen raised Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. 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.

Lindsay 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.