Lindsay (NYSE:LNN) Hits New 1-Year High – Here’s Why

Lindsay Co. (NYSE:LNN)’s share price reached a new 52-week high on Monday . The stock traded as high as $139.23 and last traded at $138.60, with a volume of 1638 shares traded. The stock had previously closed at $138.45.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LNN shares. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Stifel Nicolaus upped their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th.

Lindsay Trading Down 1.3 %

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 stock has a 50 day moving average of $127.77 and a 200 day moving average of $123.58. The firm has a market cap of $1.49 billion, a P/E ratio of 21.97 and a beta of 0.66.

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

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.05%. Lindsay’s payout ratio is 23.11%.

Institutional Trading of Lindsay

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Lindsay by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock valued at $41,975,000 after purchasing an additional 21,474 shares during the period. Sei Investments Co. boosted its position in Lindsay by 20.5% during the 2nd quarter. Sei Investments Co. now owns 9,728 shares of the industrial products company’s stock valued at $1,195,000 after buying an additional 1,657 shares during the period. Bank of Montreal Can purchased a new stake in Lindsay during the 2nd quarter valued at $436,000. Marshall Wace LLP grew its holdings in Lindsay by 106.1% in the 2nd quarter. Marshall Wace LLP now owns 6,775 shares of the industrial products company’s stock worth $833,000 after acquiring an additional 3,488 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Lindsay by 90.9% in the second quarter. Squarepoint Ops LLC now owns 28,388 shares of the industrial products company’s stock valued at $3,488,000 after acquiring an additional 13,519 shares during the period. 89.94% of the stock is owned by institutional investors.

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.