UniSuper Management Pty Ltd Purchases Shares of 6,181 Lindsay Corporation $LNN

Key Points

• UniSuper Management Pty Ltd has invested approximately $782,000 in Lindsay Corporation, acquiring 6,181 shares during the first quarter, representing about 0.06% ownership in the company.
• Lindsay Corporation recently revealed an increase in its quarterly dividend from $0.36 to $0.37, reflecting a 1.1% annual yield with a payout ratio of 21.26%.
• The company reported a 21.8% increase in revenue compared to the previous year, with earnings per share (EPS) of $1.78 surpassing analysts' expectations by $0.42.

UniSuper Management Pty Ltd purchased a new stake in Lindsay Corporation (NYSE:LNN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,181 shares of the industrial products company's stock, valued at approximately $782,000. UniSuper Management Pty Ltd owned approximately 0.06% of Lindsay at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of Lindsay during the first quarter worth about $31,000. State of Wyoming purchased a new stake in Lindsay in the 1st quarter valued at approximately $52,000. GAMMA Investing LLC lifted its position in shares of Lindsay by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 154 shares during the period. Mutual of America Capital Management LLC acquired a new stake in shares of Lindsay during the 1st quarter valued at approximately $200,000. Finally, XTX Topco Ltd acquired a new stake in shares of Lindsay during the 1st quarter valued at approximately $221,000. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Price Performance

LNN stock traded up $0.62 on Tuesday, reaching $140.43. The company had a trading volume of 99,410 shares, compared to its average volume of 78,961. Lindsay Corporation has a 1 year low of $112.14 and a 1 year high of $150.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.64 and a current ratio of 3.64. The company's fifty day moving average is $138.22 and its 200 day moving average is $134.87. The company has a market cap of $1.53 billion, a P/E ratio of 20.18 and a beta of 0.82.

Lindsay (NYSE:LNN - Get Free Report) last posted its earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.42. Lindsay had a return on equity of 15.09% and a net margin of 11.21%.The firm 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 company earned $1.85 EPS. Lindsay's revenue was up 21.8% on a year-over-year basis. On average, research analysts forecast that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.37 dividend. This is a boost from Lindsay's previous quarterly dividend of $0.36. The ex-dividend date was Friday, August 15th. This represents a $1.48 annualized dividend and a yield of 1.1%. Lindsay's payout ratio is presently 21.26%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their price target 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. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Lindsay has a consensus rating of "Hold" and a consensus target price of $136.00.

Insider Buying and Selling at Lindsay

In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total value of $263,700.48. Following the completion of the transaction, the director directly owned 3,274 shares in the company, valued at approximately $465,169.92. The trade was a 36.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian L. Ketcham sold 3,999 shares of the business's 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 transaction, the chief financial officer owned 9,621 shares of the company's stock, valued at $1,434,394.89. This trade represents a 29.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,187 shares of company stock valued at $1,049,162 over the last quarter. 1.70% of the stock is currently owned by insiders.

About Lindsay

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.