Lindsay (NYSE:LNN) Trading Down 5.1% – Should You Sell?

Lindsay Corporation (NYSE:LNN) shares were down 5.1% on Monday . The company traded as low as $115.96 and last traded at $115.8350. Approximately 118,600 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 158,281 shares. The stock had previously closed at $122.12.

Analyst Ratings Changes

A number of research firms have commented on LNN. Stifel Nicolaus reduced their price objective on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Weiss Ratings cut shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Finally, Zacks Research raised shares of Lindsay from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.00.

Lindsay Stock Down 2.0%

The company has a current ratio of 2.93, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 22.16 and a beta of 0.69. The firm’s 50 day simple moving average is $113.75 and its two-hundred day simple moving average is $119.34.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.14 by $0.39. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The company had revenue of $160.76 million for the quarter, compared to analysts’ expectations of $157.80 million. During the same period last year, the firm earned $1.78 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities analysts forecast that Lindsay Corporation will post 5.17 EPS for the current year.

Lindsay Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be 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 is Monday, August 17th. This represents a $1.52 dividend on an annualized basis and a yield of 1.3%. Lindsay’s dividend payout ratio is 28.41%.

Institutional Trading of Lindsay

A number of institutional investors have recently modified their holdings of LNN. State Street Corp increased its position in shares of Lindsay by 5.6% in the second quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock worth $68,342,000 after purchasing an additional 25,251 shares during the period. Dimensional Fund Advisors LP increased its holdings in Lindsay by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 352,344 shares of the industrial products company’s stock valued at $41,953,000 after buying an additional 6,748 shares during the period. Amundi increased its holdings in Lindsay by 39.4% in the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock valued at $31,843,000 after buying an additional 76,292 shares during the period. KBC Group NV raised its position in shares of Lindsay by 15.0% in the 1st quarter. KBC Group NV now owns 268,896 shares of the industrial products company’s stock valued at $32,017,000 after buying an additional 35,061 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Lindsay by 10.1% in the 4th quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company’s stock valued at $26,732,000 after buying an additional 20,811 shares in the last quarter. 89.94% of the stock is currently 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.