Lindsay (NYSE:LNN) Reaches New 1-Year High – Time to Buy?

Shares of Lindsay Co. (NYSE:LNN) hit a new 52-week high on Monday . The company traded as high as $139.23 and last traded at $138.60, with a volume of 1638 shares traded. The stock had previously closed at $138.45.

Analyst Ratings Changes

LNN has been the topic of several research analyst reports. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus boosted 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 Stock Performance

The firm has a market capitalization of $1.49 billion, a P/E ratio of 21.97 and a beta of 0.66. The company has a 50-day simple moving average of $127.77 and a two-hundred day simple moving average of $123.58. 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 quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. As a group, equities analysts forecast that Lindsay Co. will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.36 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.05%. Lindsay’s payout ratio is 23.11%.

Hedge Funds Weigh In On Lindsay

Several large investors have recently made changes to their positions in LNN. US Bancorp DE increased its position in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after buying an additional 84 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $33,000 after acquiring an additional 131 shares in the last quarter. CWM LLC raised its position in shares of Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 92 shares during the last quarter. Point72 Asset Management L.P. grew its position in Lindsay by 1,283.5% during 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. Finally, Quadrature Capital Ltd increased its stake in Lindsay by 6.8% during the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 200 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

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.