Stephens Investment Management Group LLC Has $10.86 Million Stock Holdings in Lindsay Corporation (NYSE:LNN)

Stephens Investment Management Group LLC trimmed its position in Lindsay Corporation (NYSE:LNN - Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,855 shares of the industrial products company's stock after selling 3,489 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.79% of Lindsay worth $10,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC acquired a new stake in Lindsay during the 4th quarter worth $32,000. GAMMA Investing LLC increased its stake in shares of 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. Mutual of America Capital Management LLC purchased a new stake in Lindsay during the first quarter worth about $200,000. Tower Research Capital LLC TRC boosted its holdings in Lindsay by 729.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock worth $202,000 after buying an additional 1,503 shares in the last quarter. Finally, Gitterman Wealth Management LLC boosted its holdings in Lindsay by 6.1% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock worth $207,000 after buying an additional 101 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Price Performance

Shares of NYSE LNN traded up $2.66 on Thursday, hitting $138.52. The company's stock had a trading volume of 185,443 shares, compared to its average volume of 85,272. Lindsay Corporation has a 12-month low of $112.14 and a 12-month high of $150.96. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 19.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.64 and a quick ratio of 2.64. The stock has a 50 day moving average of $139.35 and a 200-day moving average of $132.58.

Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the business earned $1.85 EPS. Lindsay's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, research analysts predict that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.37 per share. This is a positive change from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, August 15th. Lindsay's dividend payout ratio (DPR) is currently 20.69%.

Insiders Place Their Bets

In other Lindsay news, CFO Brian L. Ketcham sold 3,999 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 9,621 shares of the company's stock, valued at $1,434,394.89. This trade represents a 29.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on LNN shares. Wall Street Zen raised shares of Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus upped their price target on shares of 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.