Lindsay (NYSE:LNN) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Lindsay (NYSE:LNN) from a buy rating to a hold rating in a research report sent to investors on Thursday.

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

Lindsay Price Performance

LNN opened at $119.75 on Thursday. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72. The stock has a 50-day moving average price of $131.04 and a 200-day moving average price of $127.01. Lindsay has a 12-month low of $109.27 and a 12-month high of $140.27.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.55. The business had revenue of $187.10 million during the quarter, compared to analyst estimates of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. Lindsay’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 earnings per share. Equities analysts predict that Lindsay will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.20%. Lindsay’s dividend payout ratio (DPR) is currently 23.11%.

Institutional Trading of Lindsay

A number of institutional investors have recently made changes to their positions in LNN. Charles Schwab Investment Management Inc. raised its holdings in Lindsay by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after buying an additional 5,007 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Lindsay by 8.3% in the third quarter. BNP Paribas Financial Markets now owns 5,026 shares of the industrial products company’s stock valued at $626,000 after acquiring an additional 384 shares during the period. Verition Fund Management LLC raised its stake in shares of Lindsay by 21.1% during the third quarter. Verition Fund Management LLC now owns 4,333 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 754 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Lindsay by 46.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 74,950 shares of the industrial products company’s stock worth $9,342,000 after purchasing an additional 23,710 shares during the period. Finally, Quadrature Capital Ltd grew its stake in shares of Lindsay by 6.8% in the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other 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.