Lindsay (NYSE:LNN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Lindsay (NYSE:LNN) from a buy rating to a hold rating in a research report report published on Thursday.

Separately, Stifel Nicolaus raised their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th.

Lindsay Stock Down 1.0 %

Lindsay stock opened at $129.13 on Thursday. The firm has a 50 day moving average price of $131.41 and a two-hundred day moving average price of $127.01. 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 has a 52-week low of $109.27 and a 52-week high of $140.27. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 20.73 and a beta of 0.72.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. During the same quarter in the previous year, the business earned $1.64 earnings per share. Lindsay’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities analysts predict that Lindsay will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.12%. Lindsay’s dividend payout ratio is currently 23.11%.

Institutional Trading of Lindsay

Several large investors have recently made changes to their positions in LNN. AlphaQuest LLC acquired a new position in Lindsay during the 4th quarter worth approximately $32,000. GAMMA Investing LLC raised its position in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 131 shares during the period. Global Retirement Partners LLC raised its position in shares of Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 86 shares during the period. Van ECK Associates Corp grew its position in Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 1,503 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.