Lindsay (NYSE:LNN) Shares Gap Up – What’s Next?

Lindsay Co. (NYSE:LNN) gapped up before the market opened on Thursday . The stock had previously closed at $114.24, but opened at $120.00. Lindsay shares last traded at $131.31, with a volume of 27,686 shares trading hands.

Lindsay Stock Up 8.6 %

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 has a 50 day simple moving average of $120.85 and a 200-day simple moving average of $118.45. The stock has a market cap of $1.35 billion, a P/E ratio of 19.80 and a beta of 0.61.

Hedge Funds Weigh In On Lindsay

Large investors have recently made changes to their positions in the company. Heartland Advisors Inc. increased its stake in shares of Lindsay by 26.8% during the first 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 period. Vanguard Group Inc. increased its stake 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. Lombard Odier Asset Management Europe Ltd bought a new position in Lindsay during the 2nd quarter worth $1,327,000. Victory Capital Management Inc. increased its stake in Lindsay by 139.4% during the 2nd quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock worth $1,446,000 after acquiring an additional 6,853 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new position in Lindsay during the 2nd quarter worth $6,402,000. Institutional investors own 89.94% of the company’s stock.

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.