Lindsay (NYSE:LNN) Sees Large Volume Increase – What’s Next?

Shares of Lindsay Corporation (NYSE:LNN) saw strong trading volume on Tuesday . 123,070 shares traded hands during trading, a decline of 15% from the previous session’s volume of 145,007 shares.The stock last traded at $110.04 and had previously closed at $109.19.

Wall Street Analysts Forecast Growth

Several analysts have commented on LNN shares. Weiss Ratings downgraded shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Zacks Research lowered shares of Lindsay from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Finally, Stifel Nicolaus cut their price objective on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $113.00.

Lindsay Stock Performance

The stock’s 50-day moving average price is $111.39 and its 200 day moving average price is $119.10. The firm has a market cap of $1.15 billion, a P/E ratio of 20.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The business had revenue of $157.72 million during the quarter, compared to analyst estimates of $163.52 million. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, equities analysts predict that Lindsay Corporation will post 5.19 EPS for the current year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.48 annualized dividend and a yield of 1.3%. Lindsay’s dividend payout ratio is 27.11%.

Hedge Funds Weigh In On Lindsay

Several hedge funds and other institutional investors have recently made changes to their positions in LNN. Aster Capital Management DIFC Ltd bought a new position in shares of Lindsay in the 4th quarter valued at about $25,000. Advisory Services Network LLC bought a new position in Lindsay during the third quarter worth about $30,000. Parallel Advisors LLC boosted its position in shares of Lindsay by 1,295.8% in the first quarter. Parallel Advisors LLC now owns 335 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 311 shares during the period. Copeland Capital Management LLC acquired a new position in shares of Lindsay in the fourth quarter valued at about $62,000. Finally, Kestra Advisory Services LLC bought a new position in Lindsay during the fourth quarter worth about $83,000. 89.94% of the stock is owned by institutional investors.

Lindsay Company Profile

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.