Lindsay (NYSE:LNN) Reaches New 52-Week High – What’s Next?

Lindsay Co. (NYSE:LNN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $135.20 and last traded at $135.03, with a volume of 27611 shares. The stock had previously closed at $130.40.

Lindsay Price Performance

The company has a market cap of $1.45 billion, a price-to-earnings ratio of 22.16 and a beta of 0.61. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $122.85 and a 200 day moving average price of $119.71.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.16. The firm had revenue of $155.00 million for the quarter, compared to the consensus estimate of $145.37 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 down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 EPS. As a group, research analysts expect that Lindsay Co. will post 5.66 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, November 15th. Lindsay’s dividend payout ratio is 23.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE increased its stake in Lindsay by 45.9% in the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after buying an additional 84 shares during the period. CWM LLC increased its stake in shares of Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 92 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Lindsay during the second quarter worth $241,000. SG Americas Securities LLC acquired a new stake in Lindsay during the second quarter valued at $279,000. Finally, UniSuper Management Pty Ltd purchased a new position in Lindsay in the first quarter valued at about $297,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

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.