Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Lindsay Corporation (NYSE:LNN)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Lindsay Corporation (NYSE:LNN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,561 shares of the industrial products company's stock, valued at approximately $324,000.

Several other large investors also recently made changes to their positions in LNN. Raymond James Financial Inc. bought a new position in Lindsay during the 4th quarter valued at $611,000. KLP Kapitalforvaltning AS acquired a new position in Lindsay during the 4th quarter valued at about $260,000. Vanguard Group Inc. increased its stake in Lindsay by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company's stock valued at $149,091,000 after buying an additional 10,649 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Lindsay by 304.7% during the 4th quarter. JPMorgan Chase & Co. now owns 41,640 shares of the industrial products company's stock valued at $4,926,000 after purchasing an additional 31,351 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lindsay during the 4th quarter valued at about $1,475,000. Institutional investors and hedge funds own 89.94% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on LNN shares. Wall Street Zen upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus lifted their price target on Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a report on Friday, June 27th.

Lindsay Stock Down 0.5%

Shares of NYSE LNN traded down $0.63 during trading hours on Thursday, hitting $134.81. The company had a trading volume of 23,729 shares, compared to its average volume of 98,193. The stock has a market capitalization of $1.46 billion, a P/E ratio of 19.37 and a beta of 0.81. 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 Corporation has a 1-year low of $112.14 and a 1-year high of $150.96. The firm's 50 day moving average is $138.55 and its 200-day moving average is $133.83.

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 for the quarter, topping the consensus estimate 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 analysts' expectations of $157.87 million. During the same quarter last year, the business earned $1.85 EPS. The company's quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Increases Dividend

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

Insider Transactions at Lindsay

In other Lindsay news, CFO Brian L. Ketcham sold 3,999 shares of the business'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 value of $596,210.91. Following the transaction, the chief financial officer directly owned 9,621 shares of the company's stock, valued at approximately $1,434,394.89. The trade was a 29.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company's stock.

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.