Mutual of America Capital Management LLC Purchases Shares of 1,583 Lindsay Corporation (NYSE:LNN)

Mutual of America Capital Management LLC acquired a new stake in Lindsay Corporation (NYSE:LNN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,583 shares of the industrial products company’s stock, valued at approximately $200,000.

Several other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Lindsay by 0.7% in the first quarter. Victory Capital Management Inc. now owns 10,792 shares of the industrial products company’s stock valued at $1,365,000 after acquiring an additional 76 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Lindsay by 55.8% during the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 154 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Lindsay by 1.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company’s stock worth $1,253,000 after purchasing an additional 177 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Lindsay by 12.8% during the fourth quarter. Hsbc Holdings PLC now owns 1,891 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 214 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Lindsay by 3.5% during the fourth quarter. MetLife Investment Management LLC now owns 6,611 shares of the industrial products company’s stock worth $782,000 after purchasing an additional 222 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total value of $263,700.48. Following the completion of the sale, the director owned 3,274 shares of the company’s stock, valued at approximately $465,169.92. This trade represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian L. Ketcham sold 3,999 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total value of $596,210.91. Following the completion of the sale, the chief financial officer directly owned 9,621 shares of the company’s stock, valued at approximately $1,434,394.89. This trade represents a 29.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,187 shares of company stock valued at $1,049,162. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus increased their price target on Lindsay from $128.00 to $136.00 and gave the stock a “hold” rating in a report on Friday, June 27th.

Lindsay Price Performance

Shares of NYSE LNN opened at $143.09 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.64 and a quick ratio of 2.64. The stock has a fifty day moving average price of $138.46 and a 200 day moving average price of $133.91. Lindsay Corporation has a 1-year low of $112.14 and a 1-year high of $150.96. The company has a market cap of $1.55 billion, a PE ratio of 20.56 and a beta of 0.81.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.42. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. The company had revenue of $169.46 million during the quarter, compared to the consensus estimate of $157.87 million. During the same quarter last year, the company earned $1.85 earnings per share. Lindsay’s quarterly revenue was up 21.8% compared to the same quarter last year. Sell-side analysts forecast that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.0%. This is an increase from Lindsay’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, August 15th. Lindsay’s dividend payout ratio is 20.69%.

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.