ValuEngine Upgrades Lindsay (NYSE:LNN) to “Buy”
Separately, Boenning Scattergood cut shares of Lindsay from an outperform rating to a neutral rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $102.60.
LNN opened at $88.05 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.65. Lindsay has a fifty-two week low of $73.00 and a fifty-two week high of $109.50. The company’s fifty day moving average price is $80.96. The stock has a market cap of $916.73 million, a PE ratio of 29.95 and a beta of 0.34.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, August 15th. Lindsay’s payout ratio is currently 42.18%.
Hedge funds have recently made changes to their positions in the business. Quantamental Technologies LLC lifted its stake in Lindsay by 629.7% in the 1st quarter. Quantamental Technologies LLC now owns 810 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 699 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Lindsay in the 4th quarter worth about $90,000. Squarepoint Ops LLC bought a new stake in shares of Lindsay in the 4th quarter worth about $238,000. TD Asset Management Inc. bought a new stake in shares of Lindsay in the 1st quarter worth about $258,000. Finally, Piedmont Investment Advisors Inc. increased its holdings in shares of Lindsay by 6.4% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 2,723 shares of the industrial products company’s stock worth $264,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.
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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