Lindsay (NYSE:LNN) Sees Strong Trading Volume – Should You Buy?

Shares of Lindsay Corporation (NYSE:LNN) saw unusually-high trading volume on Tuesday . Approximately 123,070 shares were traded during mid-day trading, a decline of 15% from the previous session’s volume of 145,007 shares.The stock last traded at $110.04 and had previously closed at $109.19.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LNN shares. Zacks Research downgraded shares of Lindsay from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Stifel Nicolaus lowered their target price on Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $113.00.

Lindsay Price Performance

The firm has a market cap of $1.15 billion, a P/E ratio of 20.26 and a beta of 0.73. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $111.39 and its two-hundred day moving average is $119.10.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). The business had revenue of $157.72 million for the quarter, compared to analyst estimates of $163.52 million. Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 earnings per share. As a group, analysts anticipate that Lindsay Corporation will post 5.19 earnings per share for the current year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, May 15th. Lindsay’s payout ratio is presently 27.11%.

Institutional Trading of Lindsay

Several hedge funds have recently modified their holdings of LNN. Nuance Investments LLC lifted its position in shares of Lindsay by 293.5% during the 4th quarter. Nuance Investments LLC now owns 178,571 shares of the industrial products company’s stock valued at $21,048,000 after acquiring an additional 133,190 shares during the period. Wellington Management Group LLP acquired a new position in shares of Lindsay during the fourth quarter valued at about $13,994,000. Amundi boosted its position in shares of Lindsay by 39.4% during the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after purchasing an additional 76,292 shares in the last quarter. Invesco Ltd. grew its stake in shares of Lindsay by 32.6% in the 3rd quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock valued at $28,953,000 after buying an additional 50,671 shares during the period. Finally, Marshall Wace LLP bought a new stake in Lindsay in the 2nd quarter valued at about $6,670,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.