Rhumbline Advisers Buys 1,013 Shares of Lindsay Co. (NYSE:LNN)

Rhumbline Advisers raised its stake in Lindsay Co. (NYSE:LNN) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,082 shares of the industrial products company’s stock after purchasing an additional 1,013 shares during the period. Rhumbline Advisers owned approximately 0.34% of Lindsay worth $4,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in shares of Lindsay in the fourth quarter valued at about $51,000. Tompkins Financial Corp lifted its position in shares of Lindsay by 66.7% in the 1st quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 200 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Lindsay during the 1st quarter worth approximately $145,000. Quantbot Technologies LP acquired a new stake in shares of Lindsay during the 1st quarter worth approximately $239,000. Finally, SG Americas Securities LLC bought a new stake in shares of Lindsay during the second quarter valued at approximately $279,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Stock Up 3.2 %

Shares of LNN stock opened at $120.41 on Monday. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.95 and a quick ratio of 2.56. The stock has a fifty day moving average price of $119.68 and a 200 day moving average price of $117.49. The stock has a market cap of $1.31 billion, a P/E ratio of 18.27 and a beta of 0.61.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.68. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. The company had revenue of $139.20 million during the quarter, compared to analysts’ expectations of $144.38 million. During the same quarter in the prior year, the company posted $1.53 EPS. The business’s revenue was down 15.4% on a year-over-year basis. Analysts predict that Lindsay Co. will post 5.44 earnings per share for the current year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.20%. This is an increase from Lindsay’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 16th. Lindsay’s payout ratio is presently 21.85%.

Insider Activity

In related news, insider James Scott Marion sold 700 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $119.00, for a total transaction of $83,300.00. Following the completion of the transaction, the insider now owns 6,278 shares in the company, valued at approximately $747,082. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% 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.