Principal Financial Group Inc. Has $6.99 Million Position in Lindsay Corporation (NYSE:LNN)

Principal Financial Group Inc. increased its stake in shares of Lindsay Corporation (NYSE:LNN) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,251 shares of the industrial products company’s stock after buying an additional 1,423 shares during the quarter. Principal Financial Group Inc. owned about 0.51% of Lindsay worth $6,990,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LNN. AlphaQuest LLC bought a new position in shares of Lindsay in the 4th quarter worth about $32,000. GAMMA Investing LLC raised its stake in shares of Lindsay by 55.8% in the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 154 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Lindsay by 729.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 1,503 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Lindsay during the fourth quarter valued at approximately $215,000. Finally, Hsbc Holdings PLC increased its position in shares of Lindsay by 12.8% during the fourth quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian L. Ketcham sold 3,999 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total transaction of $596,210.91. Following the transaction, the chief financial officer directly owned 9,621 shares of the company’s stock, valued at approximately $1,434,394.89. This trade represents a 29.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Lindsay Price Performance

Shares of LNN opened at $135.81 on Wednesday. The firm has a market cap of $1.47 billion, a PE ratio of 19.51 and a beta of 0.82. The company has a current ratio of 3.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $139.17 and a two-hundred day simple moving average of $132.42. Lindsay Corporation has a 1-year low of $112.14 and a 1-year high of $150.96.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.36 by $0.42. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. The firm had revenue of $169.46 million during the quarter, compared to analyst estimates of $157.87 million. During the same period in the prior year, the business posted $1.85 EPS. Lindsay’s revenue was up 21.8% on a year-over-year basis. On average, equities analysts anticipate that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.37 dividend. This is a positive change from Lindsay’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, August 15th. Lindsay’s dividend payout ratio is 20.69%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Stifel Nicolaus raised their price target on Lindsay from $128.00 to $136.00 and gave the stock a “hold” rating in a report on Friday, June 27th. Wall Street Zen upgraded Lindsay from a “hold” rating to a “buy” rating in a research report on Friday, April 11th.

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.