Lindsay Corporation (NYSE:LNN) Stock Position Trimmed by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC cut its position in Lindsay Corporation (NYSE:LNN - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 about 0.79% of Lindsay worth $10,862,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LNN. Charles Schwab Investment Management Inc. lifted its position in Lindsay by 3.9% in the 4th 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 last quarter. Raymond James Financial Inc. bought a new stake in Lindsay in the 4th quarter valued at about $611,000. AlphaQuest LLC bought a new stake in Lindsay in the 4th quarter valued at about $32,000. Gitterman Wealth Management LLC lifted its position in Lindsay by 6.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock valued at $207,000 after purchasing an additional 101 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in 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 purchasing an additional 78 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors.

Lindsay Stock Down 1.8%

LNN stock opened at $138.13 on Monday. Lindsay Corporation has a 52 week low of $112.14 and a 52 week high of $150.96. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 19.85 and a beta of 0.82. The firm's 50-day moving average is $139.07 and its two-hundred day moving average is $132.28. 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 (NYSE:LNN - Get Free Report) last released its quarterly 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 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 the consensus estimate of $157.87 million. During the same period in the previous year, the firm earned $1.85 EPS. Lindsay's revenue was up 21.8% on a year-over-year basis. On average, analysts forecast that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Lindsay's previous quarterly dividend of $0.36. The ex-dividend date is Friday, August 15th. Lindsay's payout ratio is 20.69%.

Insider Activity at Lindsay

In related news, CFO Brian L. Ketcham sold 3,999 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 9,621 shares in the company, valued at $1,434,394.89. The trade was a 29.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Lindsay from $128.00 to $136.00 and gave the company 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.

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