Victory Capital Management Inc. Acquires 6,853 Shares of Lindsay Co. (NYSE:LNN)

Victory Capital Management Inc. increased its holdings in Lindsay Co. (NYSE:LNN) by 139.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,768 shares of the industrial products company’s stock after acquiring an additional 6,853 shares during the period. Victory Capital Management Inc.’s holdings in Lindsay were worth $1,446,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LNN. Louisiana State Employees Retirement System increased its holdings in Lindsay by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the industrial products company’s stock worth $688,000 after purchasing an additional 100 shares in the last quarter. Texas Permanent School Fund Corp raised its position in Lindsay by 1.5% in 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 buying an additional 143 shares during the last quarter. Tompkins Financial Corp lifted its stake in Lindsay by 66.7% during the 1st quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 200 shares in the last quarter. Rodgers Brothers Inc. boosted its holdings in Lindsay by 0.4% during the 1st quarter. Rodgers Brothers Inc. now owns 49,760 shares of the industrial products company’s stock worth $5,855,000 after acquiring an additional 200 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Lindsay by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 58,725 shares of the industrial products company’s stock worth $6,910,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Insiders Place Their Bets

In other news, insider James Scott Marion sold 700 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 6,278 shares of the company’s stock, valued at approximately $747,082. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Lindsay Stock Performance

Shares of LNN stock opened at $124.97 on Thursday. 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 firm has a 50-day moving average of $120.16 and a 200-day moving average of $117.54. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31. The company has a market cap of $1.36 billion, a P/E ratio of 19.07 and a beta of 0.61.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $144.38 million. During the same quarter last year, the business posted $1.53 EPS. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. Equities research analysts forecast that Lindsay Co. will post 5.44 EPS for the current fiscal year.

Lindsay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.36 per share. This is a positive change from Lindsay’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, August 16th. Lindsay’s dividend payout ratio (DPR) is 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.