Lindsay (NYSE:LNN - Get Free Report) released its quarterly earnings data on Thursday. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.42, RTT News reports. Lindsay had a net margin of 11.87% and a return on equity of 14.66%. During the same quarter in the previous year, the firm posted $1.85 EPS.
Lindsay Price Performance
LNN stock opened at $137.11 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.57 and a current ratio of 3.64. The business has a 50-day simple moving average of $134.95 and a two-hundred day simple moving average of $130.67. The company has a market capitalization of $1.49 billion, a P/E ratio of 19.50 and a beta of 0.82. Lindsay has a 52-week low of $109.27 and a 52-week high of $144.50.
Lindsay Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.36 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.05%. Lindsay's payout ratio is 20.48%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in shares of Lindsay by 13.4% in the first quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company's stock valued at $6,144,000 after purchasing an additional 5,749 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Lindsay by 7.8% in the first 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 last quarter. Jane Street Group LLC grew its position in Lindsay by 134.4% during the first quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company's stock valued at $4,899,000 after buying an additional 22,204 shares during the period. AQR Capital Management LLC raised its position in Lindsay by 13.9% in the first quarter. AQR Capital Management LLC now owns 8,043 shares of the industrial products company's stock worth $1,018,000 after acquiring an additional 984 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Lindsay by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,455 shares of the industrial products company's stock valued at $817,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.
Wall Street Analysts Forecast Growth
LNN has been the topic of several recent research reports. Wall Street Zen upgraded Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus cut their target price on Lindsay from $134.00 to $128.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th.
View Our Latest Research Report on LNN
About Lindsay
(
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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.
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