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 mid-day trading on Tuesday . The company traded as high as $135.65 and last traded at $135.75, with a volume of 2606 shares trading hands. The stock had previously closed at $133.04.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Stifel Nicolaus raised their target price on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Lindsay Stock Performance

The stock has a market capitalization of $1.47 billion, a PE ratio of 21.69 and a beta of 0.66. The company’s 50-day moving average price is $126.25 and its 200 day moving average price is $122.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. On average, equities research analysts expect that Lindsay Co. will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. Lindsay’s payout ratio is currently 23.11%.

Hedge Funds Weigh In On Lindsay

Large investors have recently modified their holdings of the stock. US Bancorp DE boosted 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 purchasing an additional 84 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 131 shares during the last quarter. CWM LLC boosted its holdings in Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 92 shares during the last quarter. Intech Investment Management LLC bought a new stake in Lindsay in the 2nd quarter worth approximately $241,000. Finally, Point72 Asset Management L.P. raised its stake in Lindsay by 1,283.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock valued at $340,000 after buying an additional 2,567 shares during the last quarter. Hedge funds and other 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.