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

Lindsay Corporation (NYSE:LNN - Get Free Report) saw an uptick in trading volume on Thursday . 142,881 shares changed hands 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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LNN. Wall Street Zen raised Lindsay from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Stifel Nicolaus raised their price target on Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a report on Friday, June 27th.

Lindsay Trading Up 0.8%

The firm has a fifty day simple moving average of $137.79 and a two-hundred day simple moving average of $131.50. The stock has a market cap of $1.61 billion, a PE ratio of 21.31 and a beta of 0.82. 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 data on Thursday, June 26th. The industrial products company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.36 by $0.42. The firm had revenue of $169.46 million for 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 company's revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. As a group, equities analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Lindsay's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 1.00%. Lindsay's dividend payout ratio is 21.26%.

Insider Activity at Lindsay

In other news, CFO Brian L. Ketcham sold 3,999 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $149.09, for a total transaction of $596,210.91. Following the transaction, the chief financial officer directly owned 9,621 shares in the company, valued at approximately $1,434,394.89. This represents a 29.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Lindsay

Institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of Lindsay during the first quarter valued at approximately $31,000. AlphaQuest LLC bought a new stake in shares of Lindsay during the fourth quarter valued at approximately $32,000. State of Wyoming bought a new stake in shares of Lindsay during the first quarter valued at approximately $52,000. GAMMA Investing LLC boosted its position in shares of Lindsay by 55.8% during the first quarter. GAMMA Investing LLC now owns 430 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 154 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. 89.94% of the stock is currently 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.