Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 2,561 Lindsay Corporation (NYSE:LNN)

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

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Lindsay by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company's stock worth $149,091,000 after purchasing an additional 10,649 shares during the period. KBC Group NV boosted its position in shares of Lindsay by 1.4% during the 1st quarter. KBC Group NV now owns 353,238 shares of the industrial products company's stock worth $44,692,000 after purchasing an additional 4,724 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Lindsay by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 345,943 shares of the industrial products company's stock worth $40,929,000 after purchasing an additional 2,207 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Lindsay by 37.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company's stock worth $39,164,000 after purchasing an additional 89,373 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Lindsay by 404.3% during the 1st quarter. Jennison Associates LLC now owns 216,878 shares of the industrial products company's stock worth $27,439,000 after purchasing an additional 173,872 shares during the period. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Price Performance

Shares of NYSE:LNN opened at $133.27 on Monday. The company has a 50-day simple moving average of $138.78 and a 200-day simple moving average of $133.80. Lindsay Corporation has a one year low of $112.14 and a one 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 stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 19.15 and a beta of 0.81.

Lindsay (NYSE:LNN - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share (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 business had revenue of $169.46 million for the quarter, compared to analyst estimates of $157.87 million. During the same period in the previous year, the business posted $1.85 earnings per share. The business's revenue was up 21.8% compared to the same quarter last year. On average, analysts predict that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.37 dividend. This is a boost from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. Lindsay's dividend payout ratio (DPR) is currently 20.69%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LNN shares. Stifel Nicolaus boosted their price target on shares of Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a research note on Friday, June 27th. Wall Street Zen upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th.

Insider Activity at Lindsay

In related news, CFO Brian L. Ketcham sold 3,999 shares of the company'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 transaction of $596,210.91. Following the transaction, the chief financial officer owned 9,621 shares of the company's stock, valued at approximately $1,434,394.89. This represents a 29.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.