Lindsay (NYSE:LNN) CAO Brett Richard Coburn Sells 450 Shares of Company Stock

Key Points

• CAO Brett Richard Coburn sold 450 Lindsay shares for about $49,352 at an average price of $109.67, reducing his stake by 21.52% to 1,641 shares.
• Lindsay beat quarterly earnings and revenue estimates, reporting EPS of $1.10 and revenue of $161.57 million; revenue rose 5.2% year over year.
• Analyst sentiment was cautious, with two Hold ratings and one Sell rating and a consensus “Reduce” rating. Lindsay also declared a quarterly dividend of $0.38 per share.

Lindsay Corporation (NYSE:LNN - Get Free Report) CAO Brett Richard Coburn sold 450 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $109.67, for a total value of $49,351.50. Following the sale, the chief accounting officer owned 1,641 shares in the company, valued at $179,968.47. The trade was a 21.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Lindsay Trading Down 1.0%

LNN traded down $1.10 during trading on Thursday, reaching $107.86. The company had a trading volume of 99,144 shares, compared to its average volume of 154,666. The company has a quick ratio of 2.25, a current ratio of 3.15 and a debt-to-equity ratio of 0.23. The business has a 50 day simple moving average of $112.68 and a 200-day simple moving average of $116.38. The stock has a market cap of $1.10 billion, a P/E ratio of 20.27 and a beta of 0.73. Lindsay Corporation has a 52 week low of $97.27 and a 52 week high of $148.00.

Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.12. Lindsay had a net margin of 8.75% and a return on equity of 10.96%. The business had revenue of $161.57 million for the quarter, compared to analysts' expectations of $147.56 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Lindsay Corporation will post 4.70 EPS for the current fiscal year.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.4%. Lindsay's payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Lindsay from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 16th. Zacks Research downgraded shares of Lindsay from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 29th. Finally, Stifel Nicolaus dropped their target price on Lindsay from $121.00 to $119.00 and set a "hold" rating for the company in a research report on Friday, October 23rd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $119.00.

Institutional Trading of Lindsay

A number of large investors have recently made changes to their positions in LNN. BlackRock Inc. purchased a new position in Lindsay in the 2nd quarter worth about $219,361,000. Amundi lifted its holdings in Lindsay by 64.4% during the 2nd quarter. Amundi now owns 423,312 shares of the industrial products company's stock valued at $52,376,000 after buying an additional 165,745 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Lindsay by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 352,344 shares of the industrial products company's stock valued at $41,953,000 after buying an additional 6,748 shares during the period. KBC Group NV boosted its position in Lindsay by 15.0% in the 1st quarter. KBC Group NV now owns 268,896 shares of the industrial products company's stock valued at $32,017,000 after buying an additional 35,061 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Lindsay in the 2nd quarter valued at about $23,537,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

About Lindsay

Lindsay Corporation is a manufacturer of irrigation and infrastructure equipment. Founded in 1955 and headquartered in Omaha, Nebraska, the company is best known for its Zimmatic center-pivot and lateral-move irrigation systems, which help farmers apply water to crops. Its agricultural technology offerings also include FieldNET, a platform for remotely monitoring and controlling irrigation equipment. Lindsay's infrastructure business supplies products and systems for transportation safety and traffic management.

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