Lindsay Co. (NYSE:LNN) Sees Significant Drop in Short Interest

Lindsay Co. (NYSE:LNN - Get Free Report) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 300,000 shares, a decrease of 27.4% from the March 31st total of 413,400 shares. Based on an average daily trading volume, of 84,800 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.8% of the company's stock are sold short.

Hedge Funds Weigh In On Lindsay

Large investors have recently made changes to their positions in the business. AlphaQuest LLC purchased a new position in Lindsay in the fourth quarter valued at about $32,000. GAMMA Investing LLC lifted its holdings in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after buying an additional 131 shares during the last quarter. Global Retirement Partners LLC grew its position in Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock worth $109,000 after purchasing an additional 86 shares during the last quarter. Van ECK Associates Corp grew its position in Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock worth $175,000 after buying an additional 623 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Lindsay during the first quarter valued at approximately $200,000. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Stock Performance

Shares of LNN traded up $1.13 during midday trading on Tuesday, hitting $133.26. 15,171 shares of the stock traded hands, compared to its average volume of 85,193. The business's 50 day moving average price is $127.55 and its two-hundred day moving average price is $127.62. The firm has a market capitalization of $1.45 billion, a PE ratio of 21.37 and a beta of 0.81. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. Lindsay has a 1-year low of $109.27 and a 1-year high of $140.27.

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

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, May 16th. Lindsay's dividend payout ratio is 20.48%.

Analyst Ratings Changes

Several research analysts have recently commented on LNN shares. Stifel Nicolaus decreased their target price on Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th.

About Lindsay

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.