StockNews.com Begins Coverage on Lindsay (NYSE:LNN)

StockNews.com began coverage on shares of Lindsay (NYSE:LNN – Get Rating) in a research note released on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Lindsay Stock Performance

Shares of NYSE LNN opened at $138.02 on Thursday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 20.09 and a beta of 0.62. The company has a current ratio of 3.24, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28. Lindsay has a 1-year low of $116.77 and a 1-year high of $183.08. The stock’s 50-day moving average is $151.74 and its 200 day moving average is $158.23.

Lindsay (NYSE:LNN – Get Rating) last announced its quarterly earnings data on Thursday, January 5th. The industrial products company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.40. The company had revenue of $176.20 million for the quarter, compared to analysts’ expectations of $178.10 million. Lindsay had a return on equity of 19.74% and a net margin of 9.71%. Lindsay’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. On average, sell-side analysts anticipate that Lindsay will post 6.95 EPS for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. Lindsay’s dividend payout ratio is 19.80%.

Hedge Funds Weigh In On Lindsay

Large investors have recently modified their holdings of the company. CI Private Wealth LLC purchased a new position in Lindsay in the 4th quarter worth approximately $513,000. Jane Street Group LLC increased its stake in Lindsay by 237.4% in the 4th quarter. Jane Street Group LLC now owns 9,022 shares of the industrial products company’s stock worth $1,469,000 after purchasing an additional 6,348 shares during the period. Lazard Asset Management LLC increased its stake in Lindsay by 6.1% in the 4th quarter. Lazard Asset Management LLC now owns 33,176 shares of the industrial products company’s stock worth $5,402,000 after purchasing an additional 1,917 shares during the period. Squarepoint Ops LLC purchased a new position in Lindsay in the 4th quarter worth approximately $1,515,000. Finally, Legal & General Group Plc increased its stake in Lindsay by 6.1% in the 4th quarter. Legal & General Group Plc now owns 79,988 shares of the industrial products company’s stock worth $13,026,000 after purchasing an additional 4,631 shares during the period. 84.79% of the stock is owned by hedge funds and other institutional investors.

About Lindsay

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Lindsay Corp. engages in the manufacture and distribution of irrigation and infrastructure equipment and technology. It operates through the Irrigation and Infrastructure segments. The Irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications.