Lindsay (NYSE:LNN) Sees Strong Trading Volume – What’s Next?

Lindsay Corporation (NYSE:LNN) saw unusually-strong trading volume on Tuesday . 176,253 shares were traded during trading, an increase of 16% from the previous session’s volume of 151,383 shares.The stock last traded at $120.9050 and had previously closed at $123.39.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LNN. Weiss Ratings upgraded Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Zacks Research cut shares of Lindsay from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $113.00.

Lindsay Price Performance

The company has a quick ratio of 2.04, a current ratio of 2.93 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 23.23 and a beta of 0.70. The stock’s 50 day moving average price is $115.66 and its two-hundred day moving average price is $116.01.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.39. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The business had revenue of $160.76 million during the quarter, compared to analyst estimates of $157.80 million. During the same period last year, the company earned $1.78 earnings per share. Lindsay’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts anticipate that Lindsay Corporation will post 5.19 EPS for the current fiscal year.

Lindsay Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a dividend of $0.38 per share. This is a boost from Lindsay’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.3%. Lindsay’s dividend payout ratio (DPR) is 29.17%.

Institutional Investors Weigh In On Lindsay

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in Lindsay by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,046 shares of the industrial products company’s stock worth $363,000 after buying an additional 120 shares during the last quarter. Sei Investments Co. lifted its stake in Lindsay by 2.3% in the second quarter. Sei Investments Co. now owns 6,466 shares of the industrial products company’s stock valued at $933,000 after acquiring an additional 145 shares during the last quarter. Diversified Trust Co grew its position in Lindsay by 8.8% in the first quarter. Diversified Trust Co now owns 2,165 shares of the industrial products company’s stock worth $258,000 after acquiring an additional 175 shares in the last quarter. Van ECK Associates Corp grew its position in Lindsay by 11.3% in the third quarter. Van ECK Associates Corp now owns 1,739 shares of the industrial products company’s stock worth $244,000 after acquiring an additional 177 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Lindsay by 1.0% during the 3rd quarter. Swiss National Bank now owns 21,000 shares of the industrial products company’s stock worth $2,952,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

About Lindsay

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.