Lindsay (NYSE:LNN) Hits New 52-Week High - Should You Buy?

Shares of Lindsay Co. (NYSE:LNN - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $144.08 and last traded at $140.57, with a volume of 3806 shares changing hands. The stock had previously closed at $139.80.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LNN shares. Wall Street Zen upgraded Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus dropped their price target on shares of Lindsay from $134.00 to $128.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th.

Lindsay Trading Down 0.9%

The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The company has a market capitalization of $1.47 billion, a P/E ratio of 21.72 and a beta of 0.81. The firm has a fifty day moving average price of $131.48 and a 200-day moving average price of $130.04.

Lindsay (NYSE:LNN - Get Free Report) last announced its earnings results 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. The firm had revenue of $187.10 million during the quarter, compared to analyst estimates of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business's revenue was up 23.5% compared to the same quarter last year. During the same period last year, the firm posted $1.64 EPS. On average, equities research analysts anticipate that Lindsay Co. will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, May 16th. Lindsay's dividend payout ratio is 20.48%.

Institutional Investors Weigh In On Lindsay

Several large investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock valued at $2,446,000 after purchasing an additional 13,986 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Lindsay during the 4th quarter valued at $32,000. Principal Financial Group Inc. grew its stake in shares of Lindsay by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 53,828 shares of the industrial products company's stock worth $6,368,000 after acquiring an additional 1,324 shares during the period. Franklin Resources Inc. bought a new position in shares of Lindsay during the 4th quarter worth $292,000. Finally, American Century Companies Inc. increased its holdings in Lindsay by 5.4% in the 4th quarter. American Century Companies Inc. now owns 43,802 shares of the industrial products company's stock worth $5,182,000 after acquiring an additional 2,229 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

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.