UniSuper Management Pty Ltd Invests $782,000 in 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 acquired a new position in shares of Lindsay Corporation (NYSE:LNN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,181 shares of the industrial products company's stock, valued at approximately $782,000. UniSuper Management Pty Ltd owned about 0.06% of Lindsay at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LNN. Northern Trust Corp boosted its holdings in shares of Lindsay by 5.9% during the 4th quarter. Northern Trust Corp now owns 122,566 shares of the industrial products company's stock worth $14,501,000 after buying an additional 6,860 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Lindsay by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 36,753 shares of the industrial products company's stock worth $4,348,000 after buying an additional 455 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Lindsay during the 4th quarter worth about $724,000. Deutsche Bank AG boosted its holdings in shares of Lindsay by 48.5% during the 4th quarter. Deutsche Bank AG now owns 10,572 shares of the industrial products company's stock worth $1,251,000 after buying an additional 3,454 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in shares of Lindsay during the 4th quarter worth about $331,000. Institutional investors own 89.94% of the company's stock.

Insider Transactions at Lindsay

In other news, Director Robert E. Brunner sold 1,856 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director owned 3,274 shares of the company's stock, valued at approximately $465,169.92. This represents a 36.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian L. Ketcham sold 3,999 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $149.09, for a total transaction of $596,210.91. Following the sale, the chief financial officer directly owned 9,621 shares of the company's stock, valued at approximately $1,434,394.89. This trade represents a 29.36% decrease in their position. 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 in the last three months. Insiders own 1.70% of the company's stock.

Lindsay Stock Performance

NYSE LNN opened at $137.62 on Thursday. The company has a quick ratio of 2.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.49 billion, a P/E ratio of 19.77 and a beta of 0.82. Lindsay Corporation has a 12-month low of $112.14 and a 12-month high of $150.96. The firm has a 50-day moving average price of $138.76 and a two-hundred day moving average price of $134.65.

Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $169.46 million during the quarter, compared to the consensus estimate of $157.87 million. Lindsay had a net margin of 11.21% and a return on equity of 15.09%. The business'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 firm posted $1.85 EPS. Analysts anticipate that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their target price on shares of Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a report on Friday, June 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $136.00.

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.

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