Principal Financial Group Inc. boosted its position in shares of Lindsay Corporation (NYSE:LNN) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,942 shares of the industrial products company’s stock after buying an additional 3,448 shares during the period. Principal Financial Group Inc. owned approximately 0.84% of Lindsay Corporation worth $7,926,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Heartland Advisors Inc. bought a new position in shares of Lindsay Corporation during the first quarter worth approximately $9,551,000. Parametric Portfolio Associates LLC raised its position in shares of Lindsay Corporation by 367.3% in the first quarter. Parametric Portfolio Associates LLC now owns 77,620 shares of the industrial products company’s stock worth $6,840,000 after buying an additional 61,011 shares in the last quarter. State Street Corp raised its position in shares of Lindsay Corporation by 7.3% in the fourth quarter. State Street Corp now owns 240,300 shares of the industrial products company’s stock worth $17,925,000 after buying an additional 16,368 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Lindsay Corporation by 172.3% in the first quarter. JPMorgan Chase & Co. now owns 25,576 shares of the industrial products company’s stock worth $2,254,000 after buying an additional 16,183 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Lindsay Corporation by 439.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 17,511 shares of the industrial products company’s stock worth $1,543,000 after buying an additional 14,267 shares in the last quarter.

Lindsay Corporation (NYSE:LNN) traded up 0.58% on Friday, reaching $90.01. 32,748 shares of the company traded hands. The firm has a market cap of $962.12 million, a P/E ratio of 39.00 and a beta of 0.43. The stock has a 50-day moving average price of $89.21 and a 200-day moving average price of $84.03. Lindsay Corporation has a 52-week low of $69.11 and a 52-week high of $95.04.

Lindsay Corporation (NYSE:LNN) last posted its quarterly earnings data on Thursday, June 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. The firm had revenue of $151.50 million during the quarter, compared to the consensus estimate of $145.30 million. Lindsay Corporation had a net margin of 4.75% and a return on equity of 9.69%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. Analysts anticipate that Lindsay Corporation will post $2.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a $0.30 dividend. The ex-dividend date is Tuesday, August 15th. This is a boost from Lindsay Corporation’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.33%. Lindsay Corporation’s payout ratio is presently 50.43%.

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A number of research analysts have recently commented on LNN shares. Zacks Investment Research lowered shares of Lindsay Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 31st. BidaskClub lowered shares of Lindsay Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Boenning Scattergood reissued a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, June 29th. Sidoti reissued a “buy” rating and issued a $107.00 price target (up previously from $100.00) on shares of Lindsay Corporation in a research report on Friday, July 7th. Finally, Piper Jaffray Companies increased their price target on shares of Lindsay Corporation from $77.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, July 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $91.50.

In other news, insider David B. Downing sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $89.28, for a total value of $624,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rick Parod sold 77,387 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $91.47, for a total transaction of $7,078,588.89. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

About Lindsay Corporation

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

Institutional Ownership by Quarter for Lindsay Corporation (NYSE:LNN)

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