Lindsay (NYSE:LNN) Hits New 1-Year High – Still a Buy?

Lindsay Co. (NYSE:LNN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $135.65 and last traded at $135.75, with a volume of 2606 shares. The stock had previously closed at $133.04.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th.

Lindsay Stock Performance

The company has a market cap of $1.47 billion, a P/E ratio of 21.65 and a beta of 0.66. 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 50 day moving average price of $126.66 and a 200-day moving average price of $122.82.

Lindsay (NYSE:LNN) last issued its quarterly 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. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. During the same period last year, the company posted $1.36 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts expect that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, February 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.07%. Lindsay’s dividend payout ratio (DPR) is 23.11%.

Institutional Investors Weigh In On Lindsay

Several large investors have recently modified their holdings of LNN. US Bancorp DE lifted its holdings in shares of Lindsay by 45.9% in the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. GAMMA Investing LLC lifted its stake in Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares in the last quarter. CWM LLC boosted its position in Lindsay by 16.8% during the 3rd 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 period. Intech Investment Management LLC acquired a new stake in Lindsay during the 2nd quarter worth about $241,000. Finally, Point72 Asset Management L.P. grew its stake in Lindsay by 1,283.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 2,567 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

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.