Lindsay Corporation (LNN) to Issue Quarterly Dividend of $0.38 on November 30th

Lindsay Corporation (NYSE:LNN) declared a quarterly dividend on Friday, October 23rd. Stockholders of record on Monday, November 16th will be given a dividend of $0.38 per share by the industrial products company on Monday, November 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, November 16th.

Lindsay has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lindsay to earn $6.34 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 24.0%.

Lindsay Trading Down 5.7%

NYSE LNN opened at $105.62 on Friday. The stock has a market cap of $1.07 billion, a PE ratio of 19.85 and a beta of 0.69. Lindsay has a 12 month low of $97.27 and a 12 month high of $148.00. The company’s 50-day moving average price is $114.77 and its 200-day moving average price is $113.66. The company has a current ratio of 3.15, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. The company had revenue of $161.57 million during the quarter, compared to analyst estimates of $147.56 million. Lindsay had a net margin of 8.75% and a return on equity of 10.96%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Equities research analysts forecast that Lindsay will post 5.64 earnings per share for the current year.

Institutional Trading of Lindsay

Institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC raised its stake in Lindsay by 1.8% in the third quarter. Inspire Investing LLC now owns 5,686 shares of the industrial products company’s stock worth $637,000 after buying an additional 100 shares in the last quarter. Cardinal Capital Management lifted its holdings in Lindsay by 6.8% during the third quarter. Cardinal Capital Management now owns 19,653 shares of the industrial products company’s stock worth $2,200,000 after buying an additional 1,249 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Lindsay by 86.2% during the third quarter. Nisa Investment Advisors LLC now owns 512 shares of the industrial products company’s stock worth $57,000 after buying an additional 237 shares during the period. CWA Asset Management Group LLC boosted its position in Lindsay by 22.3% during the 3rd quarter. CWA Asset Management Group LLC now owns 63,340 shares of the industrial products company’s stock valued at $7,090,000 after acquiring an additional 11,555 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Lindsay by 1.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 10,744 shares of the industrial products company’s stock valued at $1,203,000 after acquiring an additional 134 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors.

About Lindsay

Lindsay Corporation is a U.S.-based manufacturer of irrigation and infrastructure products. The company’s irrigation business provides center-pivot and lateral-move irrigation systems, water-management technologies, and related equipment used by agricultural producers to improve the application and conservation of water.

Lindsay’s irrigation portfolio includes Zimmatic irrigation systems and digital tools such as FieldNET, which helps growers monitor and manage irrigation operations remotely.