Lindsay Corporation (NYSE:LNN) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lindsay Corporation (NYSE:LNN - Free Report) by 82.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,626 shares of the industrial products company's stock after acquiring an additional 19,233 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.39% of Lindsay worth $5,393,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in 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 purchasing an additional 154 shares during the period. Mutual of America Capital Management LLC acquired a new position in Lindsay during the 1st quarter valued at approximately $200,000. Tower Research Capital LLC TRC boosted its position in Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock valued at $202,000 after purchasing an additional 1,503 shares during the period. Capstone Investment Advisors LLC acquired a new position in Lindsay during the 4th quarter valued at approximately $215,000. Finally, Hsbc Holdings PLC boosted its position in Lindsay by 12.8% during the 4th quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company's stock valued at $225,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 89.94% of the company's stock.

Insiders Place Their Bets

In other Lindsay news, CFO Brian L. Ketcham sold 3,999 shares of Lindsay stock in a transaction 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 owned 9,621 shares of the company's stock, valued at $1,434,394.89. The trade was a 29.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Lindsay Stock Performance

Lindsay stock traded down $3.24 during mid-day trading on Friday, hitting $133.27. 70,276 shares of the company's stock traded hands, compared to its average volume of 135,532. The firm has a 50 day moving average price of $138.78 and a 200 day moving average price of $133.75. 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 cap of $1.45 billion, a PE ratio of 19.15 and a beta of 0.81. Lindsay Corporation has a one year low of $112.14 and a one year high of $150.96.

Lindsay (NYSE:LNN - Get Free Report) last announced its earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.42. The firm had revenue of $169.46 million for the quarter, compared to the consensus estimate of $157.87 million. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. On average, equities analysts forecast that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Lindsay's previous quarterly dividend of $0.36. Lindsay's dividend payout ratio (DPR) is presently 20.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Lindsay from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Stifel Nicolaus boosted their price objective on Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a research report on Friday, June 27th.

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.