Lindsay (NYSE:LNN) Sets New 1-Year High – Should You Buy?

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

Analysts Set New Price Targets

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

Lindsay Price Performance

The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 22.29 and a beta of 0.66. The business’s 50-day moving average price is $127.26 and its two-hundred day moving average price is $123.28. 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 posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. During the same period last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, February 14th. Lindsay’s payout ratio is 23.11%.

Institutional Trading of Lindsay

Several large investors have recently added to or reduced their stakes in LNN. US Bancorp DE increased its stake in Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 84 shares in the last quarter. GAMMA Investing LLC lifted its position in Lindsay by 90.3% in 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. CWM LLC boosted its stake in Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after buying an additional 92 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Lindsay during the 2nd quarter worth about $241,000. Finally, Point72 Asset Management L.P. raised its position in Lindsay by 1,283.5% in the 2nd 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 during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.