Lindsay (NYSE:LNN) Reaches New 52-Week High – What’s Next?

Lindsay Co. (NYSE:LNN) reached a new 52-week high during trading on Tuesday . The stock 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 analysts have recently weighed in on LNN shares. Stifel Nicolaus increased their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

Lindsay Stock Up 1.8 %

The company has a market capitalization of $1.47 billion, a PE ratio of 21.69 and a beta of 0.66. The company’s fifty day moving average is $126.25 and its 200-day moving average 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 released its earnings results 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 net margin of 11.18% and a return on equity of 13.17%. Lindsay’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. As a group, analysts predict that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, February 14th. Lindsay’s dividend payout ratio (DPR) is presently 23.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its holdings in shares of Lindsay by 45.9% in the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 84 shares during the last quarter. GAMMA Investing LLC increased its stake in Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares during the last quarter. CWM LLC increased its stake in Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 92 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Lindsay during the 2nd quarter valued at approximately $241,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Lindsay by 1,283.5% in the second quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 2,567 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors.

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.