Lindsay (NYSE:LNN) Sets New 52-Week High – Here’s What Happened

Shares of Lindsay Co. (NYSE:LNN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $139.23 and last traded at $138.60, with a volume of 1638 shares changing hands. The stock had previously closed at $138.45.

Analysts Set New Price Targets

LNN has been the topic of a number of recent analyst reports. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Stifel Nicolaus lifted their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Lindsay Stock Performance

The stock has a 50-day simple moving average of $127.26 and a 200-day simple moving average of $123.28. The stock has a market cap of $1.51 billion, a P/E ratio of 22.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

Lindsay (NYSE:LNN) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.39 by $0.18. The business had revenue of $166.30 million during 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%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. Research analysts forecast that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, February 14th. Lindsay’s dividend payout ratio (DPR) is presently 23.11%.

Institutional Investors Weigh In On Lindsay

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in Lindsay by 45.9% during 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 grew 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 valued at $33,000 after purchasing an additional 131 shares during the period. CWM LLC boosted its holdings in shares of 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 buying 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. increased its position in 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 worth $340,000 after buying an additional 2,567 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other 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.