Point72 Asset Management L.P. Grows Stock Holdings in Lindsay Co. (NYSE:LNN)

Point72 Asset Management L.P. boosted its position in Lindsay Co. (NYSE:LNN) by 1,283.5% in the 2nd quarter, Holdings Channel reports. The fund owned 2,767 shares of the industrial products company’s stock after purchasing an additional 2,567 shares during the period. Point72 Asset Management L.P.’s holdings in Lindsay were worth $340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNN. Deprince Race & Zollo Inc. purchased a new stake in Lindsay in the 2nd quarter worth approximately $6,402,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lindsay by 868.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,033 shares of the industrial products company’s stock worth $2,953,000 after acquiring an additional 21,551 shares during the period. Dimensional Fund Advisors LP grew its stake in Lindsay by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after acquiring an additional 21,474 shares during the period. Vanguard Group Inc. grew its stake in shares of Lindsay by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company’s stock valued at $165,301,000 after buying an additional 17,261 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Lindsay during the 2nd quarter valued at $2,111,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Stock Up 1.2 %

Shares of NYSE LNN opened at $123.29 on Friday. Lindsay Co. has a 52-week low of $106.46 and a 52-week high of $137.31. The firm has a fifty day moving average of $121.13 and a 200-day moving average of $118.15. The stock has a market capitalization of $1.34 billion, a PE ratio of 18.71 and a beta of 0.61. The company has a quick ratio of 2.56, a current ratio of 3.95 and a debt-to-equity ratio of 0.24.

Insider Activity

In other news, insider James Scott Marion sold 700 shares of the business’s stock in a transaction on Monday, July 15th. The shares were 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 $747,082. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

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.