Hsbc Holdings PLC Sells 219 Shares of Lindsay Corporation $LNN

Hsbc Holdings PLC lessened its stake in shares of Lindsay Corporation (NYSE:LNN) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,672 shares of the industrial products company’s stock after selling 219 shares during the period. Hsbc Holdings PLC’s holdings in Lindsay were worth $212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Lindsay by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company’s stock valued at $1,365,000 after purchasing an additional 76 shares during the last quarter. GAMMA Investing LLC boosted its stake in Lindsay by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 154 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Lindsay during the 1st quarter valued at $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Lindsay by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,166 shares of the industrial products company’s stock valued at $729,000 after purchasing an additional 259 shares during the last quarter. Finally, Union Bancaire Privee UBP SA boosted its stake in Lindsay by 4.7% during the 1st quarter. Union Bancaire Privee UBP SA now owns 5,918 shares of the industrial products company’s stock valued at $775,000 after purchasing an additional 265 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

NYSE LNN opened at $140.48 on Friday. The company has a market capitalization of $1.53 billion, a PE ratio of 20.18 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.64 and a current ratio of 3.64. The business’s fifty day moving average is $139.23 and its 200 day moving average is $134.62. Lindsay Corporation has a fifty-two week low of $112.14 and a fifty-two week high of $150.96.

Lindsay (NYSE:LNN) last announced its quarterly earnings data 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. Lindsay had a return on equity of 15.09% and a net margin of 11.21%.The business had revenue of $169.46 million for the quarter, compared to the consensus estimate of $157.87 million. During the same period in the previous year, the business earned $1.85 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. Sell-side analysts predict that Lindsay Corporation will post 5.82 earnings per share for the current year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.37 per share. 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 dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. Lindsay’s payout ratio is currently 21.26%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus increased their target price on Lindsay from $128.00 to $136.00 and gave the company a “hold” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $136.00.

Insider Buying and Selling

In related news, Director Robert E. Brunner sold 1,856 shares of the business’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 value of $263,700.48. Following the completion of the sale, the director owned 3,274 shares in the company, valued at approximately $465,169.92. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian L. Ketcham sold 3,999 shares of the business’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 value of $596,210.91. Following the completion of the sale, the chief financial officer owned 9,621 shares of the company’s stock, valued at $1,434,394.89. The trade was a 29.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,187 shares of company stock worth $1,049,162. Insiders own 1.70% of the company’s stock.

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.