Lindsay (NYSE:LNN) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Lindsay (NYSE:LNN) from a buy rating to a hold rating in a research report released on Monday.

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

Lindsay Stock Up 0.9 %

Lindsay stock opened at $138.89 on Monday. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.51 billion, a P/E ratio of 22.29 and a beta of 0.67. The firm has a 50 day moving average price of $128.41 and a 200-day moving average price of $124.75. Lindsay has a twelve month low of $109.27 and a twelve month high of $140.26.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. Lindsay’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 earnings per share. As a group, equities analysts predict that Lindsay will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.04%. Lindsay’s payout ratio is 23.11%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LNN. Corient Private Wealth LLC raised its position in shares of Lindsay by 1.8% in the fourth quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company’s stock worth $534,000 after buying an additional 78 shares in the last quarter. US Bancorp DE grew its position in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after buying an additional 84 shares in the last quarter. Global Retirement Partners LLC increased its stake in Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 86 shares during the last quarter. CWM LLC raised its holdings in shares of Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 92 shares in the last quarter. Finally, Gitterman Wealth Management LLC boosted its position in shares of Lindsay by 6.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 101 shares during the last quarter. 89.94% of the stock is owned by institutional investors.

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.