Lindsay (NYSE:LNN) Shares Down 3.3%

Lindsay Co. (NYSE:LNN) shares dropped 3.3% on Friday . The stock traded as low as $125.00 and last traded at $125.22. Approximately 42,478 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 99,072 shares. The stock had previously closed at $129.48.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price for the company in a research note on Friday, April 5th. StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, TheStreet lowered Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

Lindsay Stock Performance

The firm has a 50-day simple moving average of $116.46 and a two-hundred day simple moving average of $121.37. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 20.66 and a beta of 0.61.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.68. The business had revenue of $139.20 million during the quarter, compared to the consensus estimate of $144.38 million. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. Lindsay’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS. As a group, sell-side analysts forecast that Lindsay Co. will post 5.3 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The business 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 represents a $1.44 annualized dividend and a yield of 1.17%. This is a positive change from Lindsay’s previous quarterly dividend of $0.35. Lindsay’s dividend payout ratio (DPR) is currently 22.33%.

Institutional Trading of Lindsay

Several large investors have recently made changes to their positions in LNN. Vanguard Group Inc. lifted its stake in shares of Lindsay by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,284,033 shares of the industrial products company’s stock valued at $151,079,000 after acquiring an additional 4,214 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Lindsay by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company’s stock valued at $40,310,000 after acquiring an additional 14,738 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 185,985 shares during the period. Pacer Advisors Inc. bought a new position in shares of Lindsay in the 4th quarter worth $24,285,000. Finally, Robeco Schweiz AG grew its stake in shares of Lindsay by 2.4% during the fourth quarter. Robeco Schweiz AG now owns 137,884 shares of the industrial products company’s stock worth $17,809,000 after purchasing an additional 3,187 shares during the period. 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.