Lindsay Corporation (NYSE:LNN) Director Robert E. Brunner Sells 1,332 Shares

Key Points

• Robert E. Brunner, a director at Lindsay Corporation, sold 1,332 shares of the company's stock for $189,250.56, reducing his stake by 34.33%.
• Lindsay Corporation's stock is currently valued at $143.09 following a 2.1% increase, with a market capitalization of approximately $1.55 billion.
• The company announced a quarterly dividend increase to $0.37 per share, reflecting a commitment to shareholder returns despite a modest dividend payout ratio of 21.26%.

Lindsay Corporation (NYSE:LNN - Get Free Report) Director Robert E. Brunner sold 1,332 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total value of $189,250.56. Following the transaction, the director owned 2,548 shares in the company, valued at approximately $362,019.84. This trade represents a 34.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lindsay Trading Up 1.0%

Lindsay stock traded up $1.34 during midday trading on Monday, hitting $139.81. 15,192 shares of the stock were exchanged, compared to its average volume of 97,370. The stock has a market capitalization of $1.52 billion, a PE ratio of 20.09 and a beta of 0.81. The company has a fifty day simple moving average of $138.65 and a two-hundred day simple moving average of $133.91. The company has a quick ratio of 2.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.22. Lindsay Corporation has a 52 week low of $112.14 and a 52 week high of $150.96.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Thursday, June 26th. The industrial products company reported $1.78 EPS 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 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 quarterly revenue was up 21.8% compared to the same quarter last year. 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 EPS for the current fiscal year.

Lindsay Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 1.1%. Lindsay's dividend payout ratio (DPR) is currently 21.26%.

Hedge Funds Weigh In On Lindsay

A number of large investors have recently made changes to their positions in LNN. USA Financial Formulas bought a new stake in shares of Lindsay in the second quarter valued at approximately $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Lindsay during the first quarter worth $31,000. State of Wyoming bought a new position in Lindsay in the first quarter valued at about $52,000. GAMMA Investing LLC grew its holdings in Lindsay by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock worth $54,000 after acquiring an additional 154 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Lindsay in the second quarter valued at $159,000. Institutional investors own 89.94% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus boosted their target price on 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.