Diversified Trust Co Purchases Shares of 1,504 Lindsay Corporation $LNN

Diversified Trust Co bought a new stake in Lindsay Corporation (NYSE:LNN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,504 shares of the industrial products company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LNN. GAMMA Investing LLC grew its stake in shares of Lindsay by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock worth $54,000 after buying an additional 154 shares in the last quarter. Integrity Alliance LLC. purchased a new position in Lindsay in the first quarter worth about $290,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lindsay by 82.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,626 shares of the industrial products company’s stock worth $5,393,000 after acquiring an additional 19,233 shares in the last quarter. Victory Capital Management Inc. grew its position in Lindsay by 0.7% in the first quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company’s stock worth $1,365,000 after acquiring an additional 76 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new position in Lindsay in the first quarter worth about $200,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Down 1.3%

Shares of NYSE:LNN opened at $137.84 on Thursday. Lindsay Corporation has a 1 year low of $112.14 and a 1 year high of $150.96. The business has a 50 day simple moving average of $138.37 and a two-hundred day simple moving average of $135.27. The firm has a market capitalization of $1.50 billion, a PE ratio of 19.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.64 and a quick ratio of 2.64.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, June 26th. The industrial products company reported $1.78 earnings per share (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 during the quarter, compared to analyst estimates of $157.87 million. During the same quarter in the previous year, the business earned $1.85 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities analysts predict that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The business 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 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 payout ratio is presently 21.26%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lifted 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. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Lindsay presently has an average rating of “Hold” and an average target price of $136.00.

Insiders Place Their Bets

In other news, Director Robert E. Brunner sold 1,856 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the sale, the director directly owned 3,274 shares of the company’s stock, 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 can be accessed through this link. Also, CFO Brian L. Ketcham sold 3,999 shares of the business’s stock in a transaction 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 sale, the chief financial officer directly owned 9,621 shares of the company’s stock, valued at $1,434,394.89. This represents a 29.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,187 shares of company stock valued at $1,049,162 over the last three months. Insiders own 1.70% of the company’s stock.

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.