Lindsay (NYSE:LNN) Hits New 52-Week High – Still a Buy?

Lindsay Co. (NYSE:LNN) reached a new 52-week high during trading on Monday . The company traded as high as $135.20 and last traded at $135.03, with a volume of 27611 shares trading hands. The stock had previously closed at $130.40.

Lindsay Stock Performance

The stock has a 50 day simple moving average of $122.85 and a 200 day simple moving average of $119.71. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 22.16 and a beta of 0.61.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.16. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The company had revenue of $155.00 million during the quarter, compared to analyst estimates of $145.37 million. During the same period last year, the business earned $1.74 EPS. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts predict that Lindsay Co. will post 5.66 EPS for the current year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, November 15th. Lindsay’s dividend payout ratio (DPR) is presently 23.92%.

Hedge Funds Weigh In On Lindsay

Several hedge funds and other institutional investors have recently modified their holdings of LNN. US Bancorp DE raised its stake in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 84 shares in the last quarter. CWM LLC raised its stake in shares of Lindsay by 16.8% during the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 92 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Lindsay in the second quarter worth about $241,000. SG Americas Securities LLC bought a new position in Lindsay in the 2nd quarter valued at about $279,000. Finally, UniSuper Management Pty Ltd acquired a new position in Lindsay during the 1st quarter valued at about $297,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Company 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.