Inspire Investing LLC Has $353,000 Position in Lindsay Corporation $LNN

Inspire Investing LLC reduced its position in shares of Lindsay Corporation (NYSE:LNN) by 18.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,793 shares of the industrial products company’s stock after selling 638 shares during the quarter. Inspire Investing LLC’s holdings in Lindsay were worth $353,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Integrity Alliance LLC. acquired a new stake in Lindsay during the 1st quarter valued at $290,000. Jane Street Group LLC increased its stake in shares of Lindsay by 134.4% in the first quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company’s stock worth $4,899,000 after acquiring an additional 22,204 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Lindsay by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,056 shares of the industrial products company’s stock worth $4,941,000 after acquiring an additional 2,811 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Lindsay by 13.4% in the first quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company’s stock worth $6,144,000 after acquiring an additional 5,749 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Lindsay in the first quarter worth $782,000. 89.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In related 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 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. This trade represents a 29.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert E. Brunner sold 1,856 shares of Lindsay stock in a transaction 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. This represents a 36.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,187 shares of company stock valued at $1,049,162. 1.70% of the stock is currently owned by company insiders.

Lindsay Stock Down 0.8%

NYSE LNN opened at $139.67 on Monday. 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 firm has a 50-day simple moving average of $138.44 and a 200 day simple moving average of $134.78. Lindsay Corporation has a twelve month low of $112.14 and a twelve month high of $150.96. The stock has a market cap of $1.52 billion, a PE ratio of 20.07 and a beta of 0.82.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.42. The firm had revenue of $169.46 million during the quarter, compared to analysts’ expectations of $157.87 million. Lindsay had a net margin of 11.21% and a return on equity of 15.09%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 earnings per share. On average, research analysts forecast that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.37 dividend. This is an increase 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 dividend payout ratio (DPR) is 21.26%.

Lindsay 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.