Lindsay Corp. (LNN) Plans Quarterly Dividend of $0.29
Lindsay Corp. (NYSE:LNN) declared a quarterly dividend on Friday, September 23rd. Stockholders of record on Wednesday, November 16th will be paid a dividend of 0.29 per share on Wednesday, November 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.57%.
Shares of Lindsay Corp. (NYSE:LNN) traded down 0.96% during trading on Friday, hitting $73.24. 21,931 shares of the stock were exchanged. Lindsay Corp. has a 12-month low of $62.99 and a 12-month high of $79.27. The stock has a market cap of $778.54 million, a P/E ratio of 88.03 and a beta of 0.92. The stock has a 50-day moving average of $71.73 and a 200 day moving average of $71.59.
Lindsay Corp. (NYSE:LNN) last issued its quarterly earnings results on Thursday, June 30th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by $0.09. The company earned $141.30 million during the quarter. Lindsay Corp. had a return on equity of 9.74% and a net margin of 1.83%. The company’s revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. Equities analysts predict that Lindsay Corp. will post $1.76 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in Lindsay Corp. during the second quarter valued at $202,000. Paloma Partners Management Co increased its position in shares of Lindsay Corp. by 29.2% in the second quarter. Paloma Partners Management Co now owns 7,496 shares of the company’s stock valued at $508,000 after buying an additional 1,696 shares during the period. ProShare Advisors LLC increased its position in shares of Lindsay Corp. by 169.5% in the second quarter. ProShare Advisors LLC now owns 27,253 shares of the company’s stock valued at $1,849,000 after buying an additional 17,139 shares during the period. Profund Advisors LLC increased its position in shares of Lindsay Corp. by 5.9% in the second quarter. Profund Advisors LLC now owns 3,152 shares of the company’s stock valued at $214,000 after buying an additional 176 shares during the period. Finally, Teachers Advisors Inc. increased its position in shares of Lindsay Corp. by 2.3% in the second quarter. Teachers Advisors Inc. now owns 21,531 shares of the company’s stock valued at $1,461,000 after buying an additional 491 shares during the period.
A number of brokerages recently issued reports on LNN. Zacks Investment Research lowered shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Stifel Nicolaus lowered shares of Lindsay Corp. from a “hold” rating to a “sell” rating and set a $64.00 price target for the company. in a research note on Thursday, June 2nd. Finally, TheStreet lowered shares of Lindsay Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Lindsay Corp. presently has an average rating of “Hold” and a consensus price target of $71.57.
Lindsay Corp. Company Profile
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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