Lindsay (NYSE:LNN) Sees Large Volume Increase - Time to Buy?

Lindsay Corporation (NYSE:LNN - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 142,881 shares were traded during mid-day trading, an increase of 76% from the previous session's volume of 81,313 shares.The stock last traded at $148.39 and had previously closed at $147.11.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LNN shares. Wall Street Zen raised shares of Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus upped their price target on shares of Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a research report on Friday, June 27th.

Lindsay Trading Up 0.8%

The firm has a market cap of $1.61 billion, a PE ratio of 21.31 and a beta of 0.82. The firm has a fifty day simple moving average of $137.79 and a two-hundred day simple moving average of $131.44. The company has a current ratio of 3.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22.

Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.42. The company had revenue of $169.46 million during the quarter, compared to analyst estimates of $157.87 million. Lindsay had a return on equity of 15.09% and a net margin of 11.21%. The firm's revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share. Equities analysts forecast that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.00%. This is a boost from Lindsay's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, August 15th. Lindsay's dividend payout ratio (DPR) is currently 20.69%.

Insider Buying and Selling at Lindsay

In related news, CFO Brian L. Ketcham sold 3,999 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $149.09, for a total value of $596,210.91. Following the completion of the transaction, the chief financial officer directly owned 9,621 shares of the company's stock, valued at $1,434,394.89. This represents a 29.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company's stock.

Institutional Trading of Lindsay

Several large investors have recently bought and sold shares of LNN. AlphaQuest LLC purchased a new position in Lindsay during the fourth quarter valued at $32,000. Franklin Resources Inc. bought a new position in shares of Lindsay in the 4th quarter worth about $292,000. American Century Companies Inc. lifted its position in Lindsay by 5.4% during the 4th quarter. American Century Companies Inc. now owns 43,802 shares of the industrial products company's stock valued at $5,182,000 after acquiring an additional 2,229 shares during the period. Deutsche Bank AG boosted its stake in Lindsay by 48.5% during the fourth quarter. Deutsche Bank AG now owns 10,572 shares of the industrial products company's stock worth $1,251,000 after acquiring an additional 3,454 shares in the last quarter. Finally, Candriam S.C.A. boosted its stake in Lindsay by 31.9% during the fourth quarter. Candriam S.C.A. now owns 35,174 shares of the industrial products company's stock worth $4,161,000 after acquiring an additional 8,499 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

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.