Lindsay Co. (NYSE:LNN – Get Free Report) declared a quarterly dividend on Friday, June 28th, RTT News reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.36 per share by the industrial products company on Friday, August 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, August 16th. This is a boost from Lindsay’s previous quarterly dividend of $0.35.
Lindsay has increased its dividend by an average of 2.8% per year over the last three years and has raised its dividend every year for the last 22 years. Lindsay has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lindsay to earn $5.54 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.0%.
Lindsay Trading Up 0.4 %
Shares of NYSE LNN opened at $117.18 on Thursday. The stock has a market capitalization of $1.28 billion, a P/E ratio of 17.78 and a beta of 0.61. The stock’s 50 day moving average price is $117.77 and its two-hundred day moving average price is $118.52. The company has a quick ratio of 2.56, a current ratio of 3.95 and a debt-to-equity ratio of 0.24. Lindsay has a 52-week low of $106.46 and a 52-week high of $137.31.
Insider Activity
In other Lindsay news, insider James Scott Marion sold 700 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $119.00, for a total value of $83,300.00. Following the transaction, the insider now owns 6,278 shares of the company’s stock, valued at $747,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% 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.
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