Lindsay Co. (NYSE:LNN) Announces Quarterly Dividend of $0.36

Lindsay Co. (NYSE:LNN - Get Free Report) declared a quarterly dividend on Friday, April 4th, RTT News reports. Shareholders of record on Friday, May 16th will be given a dividend of 0.36 per share by the industrial products company on Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, May 16th.

Lindsay has increased its dividend by an average of 2.7% annually over the last three years and has raised its dividend every year for the last 22 years. Lindsay has a payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $6.34 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 22.7%.

Lindsay Stock Performance

Shares of LNN traded up $7.33 during mid-day trading on Wednesday, reaching $123.65. 50,142 shares of the company's stock were exchanged, compared to its average volume of 86,347. The business's fifty day simple moving average is $129.86 and its 200-day simple moving average is $126.85. The stock has a market capitalization of $1.34 billion, a PE ratio of 20.00 and a beta of 0.72. Lindsay has a 52-week low of $109.27 and a 52-week high of $140.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

Lindsay (NYSE:LNN - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.55. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. During the same quarter last year, the company posted $1.64 earnings per share. The business's revenue was up 23.5% on a year-over-year basis. On average, equities research analysts expect that Lindsay will post 5.82 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com downgraded Lindsay from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Stifel Nicolaus boosted their price objective on shares of Lindsay from $130.00 to $134.00 and gave the stock a "hold" rating in a report on Friday, April 4th.

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.