Intech Investment Management LLC Invests $241,000 in Lindsay Co. (NYSE:LNN)

Intech Investment Management LLC purchased a new position in shares of Lindsay Co. (NYSE:LNN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,960 shares of the industrial products company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LNN. Norges Bank acquired a new position in shares of Lindsay during the 4th quarter worth $10,751,000. UBS Group AG grew its stake in shares of Lindsay by 212.7% during the 4th quarter. UBS Group AG now owns 65,021 shares of the industrial products company’s stock worth $8,398,000 after purchasing an additional 44,226 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Lindsay during the 4th quarter worth $358,000. Stephens Investment Management Group LLC grew its stake in shares of Lindsay by 7.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 116,812 shares of the industrial products company’s stock worth $15,087,000 after purchasing an additional 8,096 shares during the period. Finally, Quadrature Capital Ltd grew its stake in shares of Lindsay by 6.8% during the 4th quarter. Quadrature Capital Ltd now owns 27,260 shares of the industrial products company’s stock worth $3,521,000 after purchasing an additional 1,727 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Lindsay Stock Performance

NYSE:LNN opened at $124.14 on Friday. Lindsay Co. has a fifty-two week low of $106.46 and a fifty-two week high of $137.31. 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 firm’s fifty day simple moving average is $120.92 and its 200-day simple moving average is $117.85. The stock has a market cap of $1.35 billion, a PE ratio of 18.84 and a beta of 0.61.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 EPS for the quarter, topping 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 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 business’s revenue for the quarter was down 15.4% compared to the same quarter last year. Analysts expect that Lindsay Co. will post 5.44 earnings per share for the current fiscal year.

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.