Lindsay Corporation (NYSE:LNN) Stock Holdings Lifted by Jennison Associates LLC

Jennison Associates LLC lifted its position in Lindsay Corporation (NYSE:LNN - Free Report) by 404.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 216,878 shares of the industrial products company's stock after acquiring an additional 173,872 shares during the quarter. Jennison Associates LLC owned approximately 2.00% of Lindsay worth $27,439,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of 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 in the last quarter. Corient Private Wealth LLC lifted its position in shares of Lindsay by 1.8% in the 4th quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company's stock valued at $534,000 after acquiring an additional 78 shares in the last quarter. GAMMA Investing LLC lifted 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 worth $54,000 after buying an additional 154 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Lindsay by 1.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock worth $1,253,000 after buying an additional 177 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Lindsay by 12.8% in the 4th quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock worth $225,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Stock Performance

Shares of LNN opened at $137.03 on Friday. The company's fifty day moving average is $139.40 and its 200-day moving average is $132.81. Lindsay Corporation has a 12 month low of $112.14 and a 12 month high of $150.96. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 19.69 and a beta of 0.82. The company has a quick ratio of 2.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.22.

Lindsay (NYSE:LNN - Get Free Report) last announced 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 net margin of 11.21% and a return on equity of 15.09%. The company had revenue of $169.46 million for the quarter, compared to analyst estimates of $157.87 million. During the same quarter in the prior year, the business posted $1.85 EPS. Lindsay's quarterly revenue was up 21.8% on a year-over-year basis. Equities analysts expect that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Lindsay Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 1.08%. Lindsay's dividend payout ratio (DPR) is presently 20.69%.

Insider Transactions at Lindsay

In other Lindsay news, CFO Brian L. Ketcham sold 3,999 shares of the 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a research report 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.

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.

Want to see what other hedge funds are holding LNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lindsay Corporation (NYSE:LNN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.