Lindsay (NYSE:LNN) Shares Down 3.3%

Lindsay Co. (NYSE:LNN) was down 3.3% on Friday . The stock traded as low as $125.00 and last traded at $125.22. Approximately 42,478 shares traded hands during trading, a decline of 57% from the average daily volume of 99,072 shares. The stock had previously closed at $129.48.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LNN shares. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $138.33.

Lindsay Trading Down 5.1 %

The business’s fifty day moving average is $116.57 and its two-hundred day moving average is $121.37. The company has a quick ratio of 2.58, a current ratio of 3.95 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 18.65 and a beta of 0.61.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, June 27th. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.68. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. The firm had revenue of $139.20 million during the quarter, compared to analyst estimates of $144.38 million. During the same quarter in the previous year, the business earned $1.53 EPS. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. Equities analysts anticipate that Lindsay Co. will post 5.3 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, August 16th. This is a positive change from Lindsay’s previous quarterly dividend of $0.35. Lindsay’s payout ratio is currently 21.24%.

Institutional Trading of Lindsay

A number of institutional investors have recently bought and sold shares of LNN. Dimensional Fund Advisors LP boosted its position in shares of Lindsay by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company’s stock worth $40,310,000 after purchasing an additional 14,738 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of Lindsay during the fourth quarter worth $1,597,000. Norges Bank bought a new position in shares of Lindsay during the fourth quarter worth $10,751,000. GSA Capital Partners LLP boosted its position in shares of Lindsay by 223.3% during the third quarter. GSA Capital Partners LLP now owns 15,213 shares of the industrial products company’s stock worth $1,790,000 after purchasing an additional 10,507 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of Lindsay by 124.1% during the third quarter. Quadrature Capital Ltd now owns 25,533 shares of the industrial products company’s stock worth $3,010,000 after purchasing an additional 14,138 shares in the last quarter. Institutional investors and hedge funds 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.