Lindsay (NYSE:LNN) Reaches New 12-Month High – Time to Buy?

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

Lindsay Price Performance

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’s 50 day moving average price is $123.01 and its two-hundred day moving average price is $119.79. The stock has a market cap of $1.43 billion, a P/E ratio of 21.78 and a beta of 0.61.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.16. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The business had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $145.37 million. During the same period in the previous year, the firm posted $1.74 EPS. The business’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts expect that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.36 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a yield of 1.09%. Lindsay’s dividend payout ratio (DPR) is 23.92%.

Institutional Trading of Lindsay

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Lindsay by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,284,033 shares of the industrial products company’s stock valued at $151,079,000 after acquiring an additional 4,214 shares during the period. Royce & Associates LP increased its stake in shares of Lindsay by 1.6% during the third quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock valued at $50,442,000 after purchasing an additional 6,253 shares in the last quarter. KBC Group NV lifted its holdings in shares of Lindsay by 32.7% during the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock valued at $42,768,000 after purchasing an additional 84,560 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Lindsay by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after purchasing an additional 21,474 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Lindsay by 35.4% in the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock worth $17,222,000 after buying an additional 36,128 shares during the last quarter. Institutional investors 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.