Lindsay (NYSE:LNN) Upgraded at StockNews.com

StockNews.com upgraded shares of Lindsay (NYSE:LNN) from a hold rating to a buy rating in a research note released on Tuesday.

Lindsay Trading Up 2.4 %

Shares of LNN stock opened at $122.66 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $135.20. The company has a market cap of $1.33 billion, a PE ratio of 20.38 and a beta of 0.66. The stock’s fifty day moving average price is $125.69 and its two-hundred day moving average price is $121.88.

Lindsay (NYSE:LNN) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 earnings per share. Equities analysts predict that Lindsay will post 5.64 EPS for the current fiscal year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Lindsay’s dividend payout ratio is currently 23.11%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LNN. Atom Investors LP bought a new stake in Lindsay during the 3rd quarter worth $731,000. Barclays PLC boosted its stake in shares of Lindsay by 248.8% during the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after purchasing an additional 13,986 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Lindsay during the second quarter worth about $1,327,000. Victory Capital Management Inc. increased its stake in shares of Lindsay by 139.4% in the second quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock valued at $1,446,000 after buying an additional 6,853 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new position in Lindsay in the 2nd quarter valued at approximately $6,402,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Company Profile

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.