Lindsay (NYSE:LNN) Shares Pass Above 200 Day Moving Average – Here’s Why

Lindsay Corporation (NYSE:LNN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $127.41 and traded as high as $136.30. Lindsay shares last traded at $134.5190, with a volume of 82,375 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LNN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research report on Friday, October 31st. Wall Street Zen lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Stifel Nicolaus lifted their price objective on shares of Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $128.00.

Lindsay Price Performance

The company has a current ratio of 3.42, a quick ratio of 2.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.41 billion, a PE ratio of 19.93 and a beta of 0.82. The stock’s 50-day moving average is $124.56 and its two-hundred day moving average is $127.41.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, January 8th. The industrial products company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. Lindsay had a return on equity of 14.01% and a net margin of 11.02%.The firm had revenue of $155.82 million for the quarter, compared to analysts’ expectations of $166.81 million. During the same quarter in the prior year, the firm posted $1.57 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts predict that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 1.1%. Lindsay’s dividend payout ratio (DPR) is presently 21.93%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in Lindsay by 185.8% during the second quarter. American Century Companies Inc. now owns 131,079 shares of the industrial products company’s stock worth $18,908,000 after buying an additional 85,212 shares during the period. Chatham Capital Group Inc. bought a new position in shares of Lindsay in the 3rd quarter worth $1,725,000. SG Americas Securities LLC lifted its stake in shares of Lindsay by 505.3% during the 3rd quarter. SG Americas Securities LLC now owns 16,518 shares of the industrial products company’s stock worth $2,322,000 after purchasing an additional 13,789 shares during the last quarter. Atria Investments Inc bought a new stake in Lindsay during the second quarter valued at about $342,000. Finally, Amundi boosted its position in Lindsay by 48.8% during the second quarter. Amundi now owns 210,043 shares of the industrial products company’s stock valued at $28,286,000 after purchasing an additional 68,863 shares in the last quarter. Hedge funds and other 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.