Lindsay (NYSE:LNN) Trading Down 4% – What’s Next?

Lindsay Corporation (NYSE:LNN)’s stock price traded down 4% on Monday . The stock traded as low as $121.11 and last traded at $120.3250. 51,498 shares were traded during trading, a decline of 48% from the average session volume of 98,543 shares. The stock had previously closed at $125.38.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised their target price on shares of Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a report on Friday, January 9th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.00.

Lindsay Stock Down 5.2%

The company has a current ratio of 3.42, a quick ratio of 2.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.24 billion, a P/E ratio of 17.62 and a beta of 0.79. The firm’s 50 day moving average price is $129.21 and its two-hundred day moving average price is $126.59.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, January 8th. The industrial products company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.08. The business had revenue of $155.82 million for the quarter, compared to analyst estimates of $166.81 million. Lindsay had a net margin of 11.02% and a return on equity of 14.01%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 earnings per share. Equities research analysts forecast that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.2%. Lindsay’s payout ratio is currently 21.93%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LNN. Nuance Investments LLC boosted its holdings in shares of Lindsay by 293.5% in the 4th quarter. Nuance Investments LLC now owns 178,571 shares of the industrial products company’s stock valued at $21,048,000 after buying an additional 133,190 shares during the last quarter. Wellington Management Group LLP bought a new stake in Lindsay during the fourth quarter worth $13,994,000. American Century Companies Inc. lifted its stake in Lindsay by 185.8% in the second quarter. American Century Companies Inc. now owns 131,079 shares of the industrial products company’s stock valued at $18,908,000 after acquiring an additional 85,212 shares during the last quarter. Amundi lifted its stake in Lindsay by 39.4% in the fourth quarter. Amundi now owns 269,817 shares of the industrial products company’s stock valued at $31,843,000 after acquiring an additional 76,292 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Lindsay by 32.6% in the 3rd quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock valued at $28,953,000 after acquiring an additional 50,671 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Lindsay

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.