Texas Permanent School Fund Corp Grows Stock Holdings in Lindsay Co. (NYSE:LNN)

Texas Permanent School Fund Corp increased its holdings in shares of Lindsay Co. (NYSE:LNN) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,215 shares of the industrial products company’s stock after purchasing an additional 561 shares during the period. Texas Permanent School Fund Corp’s holdings in Lindsay were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LNN. Quest Partners LLC acquired a new stake in Lindsay during the fourth quarter worth about $51,000. Tompkins Financial Corp increased its holdings in Lindsay by 66.7% in the first quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock valued at $59,000 after buying an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Lindsay in the first quarter worth about $145,000. Quantbot Technologies LP purchased a new position in shares of Lindsay in the 1st quarter valued at about $239,000. Finally, SG Americas Securities LLC acquired a new position in Lindsay in the 2nd quarter worth about $279,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lindsay

In other news, insider James Scott Marion sold 700 shares of Lindsay 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 sale, the insider now directly owns 6,278 shares of the company’s stock, valued at $747,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Lindsay Stock Up 1.1 %

Lindsay stock opened at $126.25 on Friday. Lindsay Co. has a 12 month low of $106.46 and a 12 month high of $137.31. The stock has a market capitalization of $1.37 billion, a PE ratio of 19.07 and a beta of 0.61. 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 business has a 50 day simple moving average of $120.42 and a 200-day simple moving average of $117.59.

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

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid 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 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, August 16th. Lindsay’s payout ratio is 21.85%.

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.