ProShare Advisors LLC Sells 1,064 Shares of Lindsay Co. (NYSE:LNN)

ProShare Advisors LLC decreased its holdings in shares of Lindsay Co. (NYSE:LNN) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,861 shares of the industrial products company’s stock after selling 1,064 shares during the quarter. ProShare Advisors LLC owned about 0.58% of Lindsay worth $7,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LNN. Texas Permanent School Fund Corp raised its stake in shares of Lindsay by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 9,654 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 143 shares during the period. Cardinal Capital Management boosted its position in shares of Lindsay by 1.9% in the fourth quarter. Cardinal Capital Management now owns 10,109 shares of the industrial products company’s stock valued at $1,306,000 after acquiring an additional 188 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lindsay by 8.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,528 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 196 shares in the last quarter. Tompkins Financial Corp increased its holdings in Lindsay by 66.7% during 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. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Lindsay in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Analyst Ratings Changes

LNN has been the topic of a number of recent analyst reports. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective on the stock in a research report on Friday, April 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

Insider Buying and Selling

In other Lindsay news, insider James Scott Marion sold 700 shares of the business’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 value of $83,300.00. Following the completion of the sale, the insider now owns 6,278 shares in the company, valued at $747,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Lindsay Price Performance

Shares of Lindsay stock opened at $122.63 on Thursday. The firm has a market capitalization of $1.34 billion, a PE ratio of 18.61 and a beta of 0.62. The company has a current ratio of 3.95, a quick ratio of 2.56 and a debt-to-equity ratio of 0.24. Lindsay Co. has a 12 month low of $106.46 and a 12 month high of $137.31. The business’s 50-day moving average price is $116.09 and its 200-day moving average price is $119.95.

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

Lindsay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, August 16th. This is a positive change from Lindsay’s previous quarterly dividend of $0.35. Lindsay’s payout ratio is 21.24%.

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.