Inspire Investing LLC Has $350,000 Stake in Lindsay Co. (NYSE:LNN)

Inspire Investing LLC decreased its stake in Lindsay Co. (NYSE:LNN) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,849 shares of the industrial products company’s stock after selling 237 shares during the quarter. Inspire Investing LLC’s holdings in Lindsay were worth $350,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC acquired a new stake in Lindsay in the 4th quarter valued at $51,000. Tompkins Financial Corp boosted its stake in Lindsay by 66.7% in the first quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Lindsay in the first quarter worth $145,000. Quantbot Technologies LP acquired a new position in Lindsay in the first quarter worth $239,000. Finally, SG Americas Securities LLC acquired a new position in Lindsay in the second quarter worth $279,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Insider Activity at Lindsay

In other Lindsay news, insider James Scott Marion sold 700 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $119.00, for a total value of $83,300.00. Following the completion of the sale, the insider now directly owns 6,278 shares in the company, valued at $747,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Lindsay Price Performance

Lindsay stock opened at $123.82 on Tuesday. The firm has a market cap of $1.35 billion, a P/E ratio of 18.79 and a beta of 0.61. Lindsay Co. has a 52 week low of $106.46 and a 52 week high of $137.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 3.95. The business’s fifty day moving average is $120.81 and its two-hundred day moving average is $117.64.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, June 27th. The industrial products company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.68. The company had revenue of $139.20 million during the quarter, compared to the consensus estimate of $144.38 million. Lindsay had a return on equity of 14.41% and a net margin of 11.75%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 earnings per share. Equities research analysts forecast that Lindsay Co. will post 5.44 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, August 16th. This is an increase from Lindsay’s previous quarterly dividend of $0.35. Lindsay’s dividend payout ratio is currently 21.85%.

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.