Lindsay (NYSE:LNN) Reaches New 52-Week Low – Should You Sell?

Lindsay Corporation (NYSE:LNN)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $107.11 and last traded at $107.88, with a volume of 22997 shares traded. The stock had previously closed at $110.07.

Analyst Ratings Changes

LNN has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research report on Friday, October 31st. Stifel Nicolaus set a $122.00 price target on shares of Lindsay in a research note on Friday, October 24th. Finally, Wall Street Zen cut shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Lindsay currently has an average rating of “Hold” and a consensus target price of $122.00.

Lindsay Stock Up 1.1%

The company has a quick ratio of 2.76, a current ratio of 3.71 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $127.43 and its 200 day simple moving average is $134.61. The firm has a market cap of $1.16 billion, a P/E ratio of 15.90 and a beta of 0.85.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.05). Lindsay had a return on equity of 14.33% and a net margin of 10.95%.The company had revenue of $153.56 million for the quarter, compared to analyst estimates of $156.91 million. During the same period last year, the business earned $1.17 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts forecast that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 1.4%. Lindsay’s dividend payout ratio (DPR) is 21.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LNN. USA Financial Formulas bought a new stake in Lindsay in the 2nd quarter valued at about $26,000. Advisory Services Network LLC bought a new position in Lindsay during the third quarter worth about $30,000. Banque Cantonale Vaudoise purchased a new position in shares of Lindsay in the first quarter worth about $31,000. State of Wyoming bought a new stake in shares of Lindsay in the first quarter valued at approximately $52,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Lindsay by 2,226.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company’s stock valued at $134,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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