Lindsay (NYSE:LNN) Upgraded by StockNews.com to Buy Rating

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

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

Lindsay Price Performance

NYSE LNN opened at $128.60 on Wednesday. The stock has a 50-day simple moving average of $131.88 and a 200 day simple moving average of $126.23. Lindsay has a twelve month low of $109.27 and a twelve month high of $140.27. The stock has a market capitalization of $1.40 billion, a PE ratio of 20.64 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The company 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%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 earnings per share. Research analysts anticipate that Lindsay will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.36 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.12%. Lindsay’s dividend payout ratio is currently 23.11%.

Institutional Trading of Lindsay

Institutional investors and hedge funds have recently modified their holdings of the company. Putney Financial Group LLC bought a new stake in Lindsay in the 4th quarter valued at $233,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Lindsay by 7.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,245 shares of the industrial products company’s stock valued at $4,288,000 after acquiring an additional 2,413 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Lindsay in the fourth quarter valued at about $2,885,000. Millennium Management LLC raised its position in Lindsay by 80.0% in the fourth quarter. Millennium Management LLC now owns 8,636 shares of the industrial products company’s stock worth $1,022,000 after purchasing an additional 3,838 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Lindsay by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,166 shares of the industrial products company’s stock worth $729,000 after purchasing an additional 259 shares during the period. 89.94% of the stock is currently 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.