Lindsay (NYSE:LNN) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of 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 traded.

Analyst Ratings Changes

LNN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Lindsay in a research note 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 target price 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $128.00.

Lindsay Stock Performance

The company has a quick ratio of 2.43, a current ratio of 3.42 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.40 billion, a PE ratio of 19.89 and a beta of 0.82. The firm has a 50 day moving average price of $124.88 and a 200-day moving average price of $127.42.

Lindsay (NYSE:LNN) last issued 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 analyst estimates of $166.81 million. During the same quarter in the prior year, the firm earned $1.57 earnings per share. Lindsay’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts expect that Lindsay Corporation will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

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

Institutional Investors Weigh In On Lindsay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of Lindsay by 13.9% in the 1st quarter. AQR Capital Management LLC now owns 8,043 shares of the industrial products company’s stock valued at $1,018,000 after buying an additional 984 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Lindsay by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,455 shares of the industrial products company’s stock worth $817,000 after purchasing an additional 289 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Lindsay by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company’s stock worth $6,144,000 after purchasing an additional 5,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Lindsay by 7.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,056 shares of the industrial products company’s stock worth $4,941,000 after purchasing an additional 2,811 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Lindsay by 134.4% during the 1st quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company’s stock valued at $4,899,000 after purchasing an additional 22,204 shares in the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

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.