Lindsay (NYSE:LNN) Shares Down 3.3%

Lindsay Co. (NYSE:LNN)’s share price fell 3.3% on Friday . The company traded as low as $125.00 and last traded at $125.22. 42,478 shares were traded during trading, a decline of 57% from the average session volume of 99,072 shares. The stock had previously closed at $129.48.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LNN. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a report on Friday, April 5th. Finally, StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Lindsay Stock Performance

The firm has a market cap of $1.36 billion, a P/E ratio of 18.65 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.58 and a current ratio of 3.95. The company’s 50 day moving average is $116.57 and its 200 day moving average is $121.37.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.17 by $0.68. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. The business had revenue of $139.20 million during the quarter, compared to the consensus estimate of $144.38 million. During the same quarter in the prior year, the firm earned $1.53 EPS. The firm’s revenue was down 15.4% compared to the same quarter last year. As a group, equities analysts predict that Lindsay Co. will post 5.3 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.36 dividend. This is a boost from Lindsay’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, August 16th. Lindsay’s dividend payout ratio is 21.24%.

Hedge Funds Weigh In On Lindsay

Several institutional investors and hedge funds have recently added to or reduced their stakes in LNN. Pacer Advisors Inc. acquired a new position in Lindsay in the 4th quarter valued at approximately $24,285,000. American Century Companies Inc. increased its position in Lindsay by 3,922.9% in the 3rd quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock valued at $22,445,000 after acquiring an additional 185,985 shares during the period. Norges Bank acquired a new position in Lindsay in the 4th quarter valued at approximately $10,751,000. UBS Group AG increased its position in shares of Lindsay by 212.7% during the fourth quarter. UBS Group AG now owns 65,021 shares of the industrial products company’s stock worth $8,398,000 after buying an additional 44,226 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Lindsay by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company’s stock worth $165,301,000 after buying an additional 17,261 shares during the period. 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.