Lindsay (NYSE:LNN) Cut to Hold at 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 Monday.

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

Lindsay Price Performance

Shares of LNN opened at $138.89 on Monday. The firm has a market cap of $1.51 billion, a PE ratio of 22.29 and a beta of 0.67. Lindsay has a 52-week low of $109.27 and a 52-week high of $140.26. The business’s 50 day moving average price is $128.41 and its two-hundred day moving average price is $124.75. 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 issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. During the same period in the prior year, the firm earned $1.36 earnings per share. Lindsay’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that Lindsay will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.04%. Lindsay’s dividend payout ratio (DPR) is currently 23.11%.

Institutional Investors Weigh In On Lindsay

Several institutional investors have recently bought and sold shares of LNN. AlphaQuest LLC bought a new stake in shares of Lindsay in the 4th quarter worth $32,000. US Bancorp DE grew its position 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 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 valued at $33,000 after buying an additional 131 shares during the last quarter. CWM LLC lifted its position in shares of Lindsay by 16.8% during 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 in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after buying an additional 86 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

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.