Robert E. Brunner Sells 1,856 Shares of Lindsay Corporation (NYSE:LNN) Stock

Key Points

• Director Robert E. Brunner sold 1,856 shares of Lindsay Corporation at an average price of $142.08, totaling $263,700.48, which represents a 36.18% decrease in his ownership.
• Lindsay recently announced a quarterly dividend increase to $0.37 per share, marking a 1.0% yield and an annualized payout of $1.48.
• Following strong quarterly earnings with $1.78 earnings per share, Lindsay's stock has shown growth, with analysts forecasting a 5.82 EPS for the current year.

Lindsay Corporation (NYSE:LNN - Get Free Report) Director Robert E. Brunner sold 1,856 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the sale, the director directly owned 3,274 shares of the company's stock, valued at $465,169.92. The trade was a 36.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Lindsay Trading Up 1.0%

LNN traded up $1.34 during trading on Monday, reaching $139.81. The company had a trading volume of 14,145 shares, compared to its average volume of 97,370. The firm's 50-day simple moving average is $138.65 and its 200 day simple moving average is $133.91. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 20.09 and a beta of 0.81. Lindsay Corporation has a 12-month low of $112.14 and a 12-month 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.

Lindsay (NYSE:LNN - Get Free Report) last released 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 company had revenue of $169.46 million for the quarter, compared to analysts' expectations of $157.87 million. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. The business'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 posted $1.85 EPS. Equities research analysts anticipate that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a boost 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%. Lindsay's dividend payout ratio (DPR) is 21.26%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Sector Pension Investment Board boosted its holdings in Lindsay by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 37,074 shares of the industrial products company's stock valued at $5,348,000 after acquiring an additional 2,644 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Lindsay by 642.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the industrial products company's stock valued at $225,000 after acquiring an additional 1,350 shares during the last quarter. Corient Private Wealth LLC bought a new position in Lindsay in the second quarter valued at about $217,000. State of Tennessee Department of Treasury boosted its holdings in Lindsay by 73.7% in the second quarter. State of Tennessee Department of Treasury now owns 7,995 shares of the industrial products company's stock valued at $1,153,000 after acquiring an additional 3,392 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Lindsay by 259.1% in the second quarter. Lazard Asset Management LLC now owns 29,589 shares of the industrial products company's stock valued at $4,268,000 after buying an additional 21,350 shares during the period. 89.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their price objective on shares of Lindsay from $128.00 to $136.00 and gave the stock a "hold" rating in a report on Friday, June 27th.

Lindsay Company 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.