Lindsay (NYSE:LNN) Price Target Raised to $134.00

Lindsay (NYSE:LNN) had its price objective raised by Stifel Nicolaus from $130.00 to $134.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Separately, StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a report on Thursday.

Lindsay Price Performance

NYSE LNN opened at $119.75 on Friday. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. Lindsay has a 1 year low of $109.27 and a 1 year high of $140.27. The company has a market cap of $1.30 billion, a PE ratio of 19.22 and a beta of 0.72. The stock’s 50-day moving average price is $131.04 and its two-hundred day moving average price is $127.02.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. During the same quarter in the previous year, the business earned $1.64 earnings per share. The firm’s revenue was up 23.5% compared to the same quarter last year. On average, analysts predict that Lindsay will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.20%. Lindsay’s dividend payout ratio (DPR) is 23.11%.

Institutional Trading of Lindsay

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Lindsay by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 1,260,171 shares of the industrial products company’s stock worth $149,091,000 after buying an additional 10,649 shares in the last quarter. KBC Group NV raised its holdings in shares of Lindsay by 1.6% during the fourth quarter. KBC Group NV now owns 348,514 shares of the industrial products company’s stock worth $41,233,000 after acquiring an additional 5,382 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lindsay by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 345,943 shares of the industrial products company’s stock worth $40,929,000 after acquiring an additional 2,207 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Lindsay by 37.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company’s stock valued at $39,164,000 after purchasing an additional 89,373 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Lindsay by 3.7% in the fourth quarter. First Trust Advisors LP now owns 207,403 shares of the industrial products company’s stock valued at $24,538,000 after purchasing an additional 7,362 shares in the last quarter. 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.