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

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

Lindsay Price Performance

The stock has a market capitalization of $1.43 billion, a PE ratio of 21.78 and a beta of 0.61. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $123.01 and a 200-day moving average price of $119.79.

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 analysts’ consensus estimates of $1.01 by $0.16. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The firm had revenue of $155.00 million during the quarter, compared to analyst estimates of $145.37 million. During the same period in the previous year, the business posted $1.74 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Research analysts expect that Lindsay Co. will post 5.66 EPS for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 15th. This represents a $1.44 annualized dividend and a yield of 1.09%. Lindsay’s payout ratio is 23.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LNN. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Lindsay during the second quarter worth about $1,327,000. Victory Capital Management Inc. lifted its holdings in Lindsay by 139.4% in the 2nd quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock worth $1,446,000 after buying an additional 6,853 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Lindsay in the 2nd quarter worth approximately $6,402,000. Panagora Asset Management Inc. purchased a new position in shares of Lindsay during the second quarter valued at approximately $2,111,000. Finally, XTX Topco Ltd bought a new position in shares of Lindsay during the second quarter valued at approximately $500,000. 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.