ValuEngine cut shares of Lindsay (NYSE:LNN) from a buy rating to a hold rating in a research report report published on Thursday morning.

Several other equities research analysts also recently issued reports on LNN. Zacks Investment Research raised shares of Lindsay from a sell rating to a hold rating in a research note on Wednesday, September 26th. TheStreet raised shares of Lindsay from a c+ rating to a b+ rating in a research note on Thursday, June 28th. Stifel Nicolaus lifted their price target on shares of Lindsay from $91.00 to $92.00 and gave the stock a hold rating in a research note on Monday, October 8th. Finally, Monness Crespi & Hardt set a $70.00 price target on shares of Lindsay and gave the stock a sell rating in a research note on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $91.33.

Shares of NYSE:LNN traded up $3.94 during midday trading on Thursday, hitting $93.59. 185,644 shares of the company’s stock traded hands, compared to its average volume of 86,148. The company has a current ratio of 4.13, a quick ratio of 2.71 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.48 and a beta of 0.30. Lindsay has a twelve month low of $83.57 and a twelve month high of $105.00.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, October 18th. The industrial products company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.38). The business had revenue of $123.30 million for the quarter, compared to analyst estimates of $136.22 million. Lindsay had a net margin of 3.70% and a return on equity of 11.53%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. On average, analysts predict that Lindsay will post 3.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.32%. Lindsay’s dividend payout ratio (DPR) is 42.18%.

In related news, Director Bill Welsh sold 3,000 shares of Lindsay stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $93.52, for a total transaction of $280,560.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Lindsay by 7.1% in the 2nd quarter. BlackRock Inc. now owns 1,507,391 shares of the industrial products company’s stock worth $146,202,000 after purchasing an additional 99,369 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Lindsay by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 467,400 shares of the industrial products company’s stock worth $45,333,000 after purchasing an additional 10,900 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Lindsay by 1.1% in the 2nd quarter. Voya Investment Management LLC now owns 370,635 shares of the industrial products company’s stock worth $35,948,000 after purchasing an additional 3,929 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lindsay by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,015 shares of the industrial products company’s stock worth $32,494,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Lindsay by 3.1% in the 2nd quarter. Northern Trust Corp now owns 144,373 shares of the industrial products company’s stock worth $14,003,000 after purchasing an additional 4,395 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

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