Victory Capital Management Inc. Has $1.45 Million Stock Position in Lindsay Co. (NYSE:LNN)

Victory Capital Management Inc. raised its holdings in Lindsay Co. (NYSE:LNN - Free Report) by 139.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,768 shares of the industrial products company's stock after acquiring an additional 6,853 shares during the quarter. Victory Capital Management Inc. owned approximately 0.11% of Lindsay worth $1,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LNN. Norges Bank acquired a new position in shares of Lindsay in the 4th quarter worth approximately $10,751,000. UBS Group AG boosted its position in Lindsay by 212.7% during the fourth quarter. UBS Group AG now owns 65,021 shares of the industrial products company's stock valued at $8,398,000 after acquiring an additional 44,226 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lindsay by 868.3% during 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. Vanguard Group Inc. grew its holdings in Lindsay by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company's stock worth $165,301,000 after acquiring an additional 17,261 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in shares of Lindsay in the 2nd quarter worth about $2,111,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lindsay

In related news, insider James Scott Marion sold 700 shares of the business's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $119.00, for a total value 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 approximately $747,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company's stock.

Lindsay Trading Up 1.1 %

Shares of Lindsay stock traded up $1.37 on Thursday, hitting $126.25. 52,442 shares of the company's stock traded hands, compared to its average volume of 93,005. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 19.07 and a beta of 0.61. The company has a fifty day moving average of $120.42 and a two-hundred day moving average of $117.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.95 and a quick ratio of 2.56. Lindsay Co. has a one year low of $106.46 and a one year high of $137.31.

Lindsay (NYSE:LNN - Get Free Report) last announced 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 company had revenue of $139.20 million during the quarter, compared to the consensus estimate of $144.38 million. During the same quarter last year, the firm posted $1.53 EPS. The company's quarterly revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts expect that Lindsay Co. will post 5.44 earnings per share for the current year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, August 16th. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. This is a positive change from Lindsay's previous quarterly dividend of $0.35. Lindsay's dividend payout ratio is currently 21.85%.

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.