Insider Selling: Lindsay Co. (NYSE:LNN) Insider Sells 1,945 Shares of Stock

Lindsay Co. (NYSE:LNNGet Rating) insider James Scott Marion sold 1,945 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $146.01, for a total value of $283,989.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of LNN stock traded up $1.74 during midday trading on Monday, hitting $147.01. The company had a trading volume of 95,089 shares, compared to its average volume of 59,304. The company’s 50 day simple moving average is $139.76 and its 200 day simple moving average is $146.05. Lindsay Co. has a 52-week low of $118.28 and a 52-week high of $179.26. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 35.17 and a beta of 0.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.79 and a quick ratio of 1.63.

Lindsay (NYSE:LNNGet Rating) last announced its earnings results on Tuesday, April 5th. The industrial products company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.12. Lindsay had a return on equity of 16.04% and a net margin of 6.76%. The company had revenue of $200.10 million for the quarter, compared to the consensus estimate of $187.09 million. During the same period last year, the business posted $1.08 EPS. The company’s revenue was up 39.3% on a year-over-year basis. Analysts anticipate that Lindsay Co. will post 5.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, May 16th. This represents a $1.32 annualized dividend and a dividend yield of 0.90%. Lindsay’s dividend payout ratio is currently 31.58%.

Separately, StockNews.com initiated coverage on Lindsay in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd lifted its holdings in shares of Lindsay by 2.4% in the 4th quarter. WINTON GROUP Ltd now owns 3,723 shares of the industrial products company’s stock valued at $566,000 after buying an additional 87 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Lindsay by 2.1% in the 1st quarter. Maryland State Retirement & Pension System now owns 4,412 shares of the industrial products company’s stock valued at $693,000 after buying an additional 89 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Lindsay by 0.3% in the 4th quarter. Alliancebernstein L.P. now owns 26,967 shares of the industrial products company’s stock valued at $4,099,000 after buying an additional 92 shares during the period. Bank of America Corp DE raised its holdings in Lindsay by 0.5% during the fourth quarter. Bank of America Corp DE now owns 29,436 shares of the industrial products company’s stock worth $4,474,000 after purchasing an additional 142 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in Lindsay by 28.7% during the third quarter. Advisor Group Holdings Inc. now owns 691 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 154 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Lindsay Company Profile (Get Rating)

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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 and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

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