ProShare Advisors LLC Has $6.63 Million Position in Lindsay Co. (NYSE:LNN)

ProShare Advisors LLC cut its holdings in shares of Lindsay Co. (NYSE:LNN) by 15.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,943 shares of the industrial products company’s stock after selling 9,918 shares during the quarter. ProShare Advisors LLC’s holdings in Lindsay were worth $6,629,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Lindsay by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company’s stock valued at $40,310,000 after buying an additional 14,738 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of Lindsay in the 4th quarter valued at about $1,597,000. Heartland Advisors Inc. increased its stake in shares of Lindsay by 26.8% during the 1st quarter. Heartland Advisors Inc. now owns 53,003 shares of the industrial products company’s stock worth $6,236,000 after purchasing an additional 11,207 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Lindsay by 1.4% in 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 purchasing an additional 17,261 shares during the period. Finally, Norges Bank acquired a new stake in Lindsay in the 4th quarter valued at about $10,751,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider James Scott Marion sold 700 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $119.00, for a total value of $83,300.00. Following the transaction, the insider now owns 6,278 shares in the company, valued at approximately $747,082. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Lindsay Price Performance

Shares of NYSE LNN opened at $121.72 on Thursday. The company has a quick ratio of 2.56, a current ratio of 3.95 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average price is $120.78 and its two-hundred day moving average price is $117.73. The company has a market cap of $1.33 billion, a PE ratio of 18.47 and a beta of 0.61. Lindsay Co. has a twelve month low of $106.46 and a twelve month high of $137.31.

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

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.36 dividend. This is an increase from Lindsay’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, August 16th. Lindsay’s payout ratio is currently 21.85%.

About Lindsay

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.