Lindsay Corporation (LNN) Insider David B. Downing Sells 26,265 Shares
Lindsay Corporation (NYSE:LNN) insider David B. Downing sold 26,265 shares of Lindsay stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.14, for a total value of $2,262,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Lindsay Corporation (NYSE LNN) traded up $1.58 during midday trading on Thursday, hitting $88.42. The stock had a trading volume of 116,078 shares, compared to its average volume of 84,168. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.29 and a quick ratio of 2.24. Lindsay Corporation has a one year low of $73.34 and a one year high of $96.22. The company has a market cap of $931.05, a P/E ratio of 37.15, a P/E/G ratio of 1.96 and a beta of 0.50.
Lindsay (NYSE:LNN) last issued its earnings results on Thursday, December 21st. The industrial products company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The business had revenue of $124.53 million for the quarter, compared to the consensus estimate of $117.11 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. equities analysts predict that Lindsay Corporation will post 2.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.36%. Lindsay’s dividend payout ratio is currently 50.42%.
Several research analysts have weighed in on LNN shares. Piper Jaffray Companies reaffirmed a “hold” rating and set a $80.00 price target on shares of Lindsay in a research report on Sunday, September 10th. Stifel Nicolaus boosted their price target on Lindsay from $76.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, October 13th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay in a research report on Thursday, October 12th. TheStreet lowered Lindsay from a “b” rating to a “c+” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research lowered Lindsay from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $95.25.
Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Lindsay by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 14 shares during the period. CS Mckee LP boosted its stake in shares of Lindsay by 0.6% during the 2nd quarter. CS Mckee LP now owns 17,850 shares of the industrial products company’s stock worth $1,593,000 after acquiring an additional 100 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Lindsay by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock worth $2,550,000 after acquiring an additional 238 shares during the period. Van ECK Associates Corp boosted its stake in Lindsay by 27.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 362 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Lindsay by 6.7% in the 2nd quarter. GSA Capital Partners LLP now owns 7,895 shares of the industrial products company’s stock valued at $705,000 after purchasing an additional 495 shares during the period. Institutional investors own 94.23% of the company’s stock.
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Lindsay Company Profile
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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