Lindsay (NYSE:LNN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Lindsay (NYSE:LNN) from a hold rating to a buy rating in a report released on Tuesday.

Lindsay Trading Up 2.4 %

NYSE LNN opened at $122.66 on Tuesday. The firm has a market capitalization of $1.33 billion, a PE ratio of 20.38 and a beta of 0.66. The business’s 50-day moving average price is $125.69 and its two-hundred day moving average price is $121.88. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. Lindsay has a 12 month low of $109.27 and a 12 month high of $135.20.

Lindsay (NYSE:LNN) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The business had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.78 million. During the same period in the prior year, the business posted $1.36 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Lindsay will post 5.64 EPS for the current year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.36 per share. The ex-dividend date was Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Lindsay’s dividend payout ratio (DPR) is currently 23.11%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its stake 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 period. CWM LLC boosted its holdings 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. GAMMA Investing LLC grew its position in shares of Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after buying an additional 131 shares during the period. Quadrature Capital Ltd increased its stake in shares of Lindsay by 6.8% in the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Lindsay by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,278 shares of the industrial products company’s stock valued at $1,263,000 after acquiring an additional 347 shares during the period. 89.94% of the stock is owned by 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.