Lindsay (NYSE:LNN) Hits New 12-Month High – Here’s Why

Lindsay Co. (NYSE:LNN)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $135.65 and last traded at $135.75, with a volume of 2606 shares traded. The stock had previously closed at $133.04.

Analyst Ratings Changes

Several research firms have recently weighed in on LNN. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus boosted their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th.

Lindsay Price Performance

The company has a market cap of $1.47 billion, a PE ratio of 21.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The company has a 50-day moving average price of $126.66 and a two-hundred day moving average price of $122.82.

Lindsay (NYSE:LNN) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The business had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 earnings per share. Sell-side analysts expect that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, February 14th. Lindsay’s payout ratio is 23.11%.

Institutional Investors Weigh In On Lindsay

A number of hedge funds have recently bought and sold shares of the business. Atom Investors LP bought a new stake in Lindsay in the third quarter valued at about $731,000. Barclays PLC raised its position in shares of Lindsay by 248.8% during the 3rd quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after acquiring an additional 13,986 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in Lindsay during the second quarter worth $6,402,000. Charles Schwab Investment Management Inc. boosted its holdings in Lindsay by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock worth $16,571,000 after purchasing an additional 5,007 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Lindsay during the third quarter valued at $754,000. 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.