Zurcher Kantonalbank Zurich Cantonalbank Has $5.39 Million Stock Holdings in Lindsay Corporation (NYSE:LNN)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lindsay Corporation (NYSE:LNN - Free Report) by 82.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,626 shares of the industrial products company's stock after acquiring an additional 19,233 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.39% of Lindsay worth $5,393,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LNN. Victory Capital Management Inc. lifted its stake in shares of Lindsay by 0.7% in the first quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company's stock valued at $1,365,000 after buying an additional 76 shares during the period. GAMMA Investing LLC lifted its stake in shares of Lindsay by 55.8% in the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock valued at $54,000 after buying an additional 154 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Lindsay by 1.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock valued at $1,253,000 after buying an additional 177 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Lindsay by 12.8% in the fourth quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock valued at $225,000 after buying an additional 214 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Lindsay by 3.5% during the fourth quarter. MetLife Investment Management LLC now owns 6,611 shares of the industrial products company's stock worth $782,000 after purchasing an additional 222 shares during the period. 89.94% of the stock is currently owned by institutional investors.

Lindsay Price Performance

Shares of NYSE LNN traded up $1.03 during mid-day trading on Monday, hitting $134.45. 21,681 shares of the stock were exchanged, compared to its average volume of 98,799. The company has a market cap of $1.46 billion, a P/E ratio of 19.32 and a beta of 0.81. The stock's fifty day simple moving average is $138.78 and its two-hundred day simple moving average is $133.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.64 and a current ratio of 3.64. Lindsay Corporation has a twelve month low of $112.14 and a twelve month high of $150.96.

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 for the quarter, beating analysts' consensus estimates of $1.36 by $0.42. The business had revenue of $169.46 million during the quarter, compared to analyst estimates of $157.87 million. Lindsay had a net margin of 11.21% and a return on equity of 15.09%. Lindsay's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 earnings per share. As a group, analysts forecast that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Lindsay Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.37 dividend. This is an increase from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. Lindsay's dividend payout ratio (DPR) is 21.26%.

Analyst Ratings Changes

A number of research analysts have commented on LNN shares. Stifel Nicolaus raised 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 Buying and Selling at Lindsay

In related news, CFO Brian L. Ketcham sold 3,999 shares of the firm'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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently 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.