Lindsay (NYSE:LNN) Shares Gap Down to $115.35

Lindsay Co. (NYSE:LNN - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $115.35, but opened at $112.55. Lindsay shares last traded at $118.19, with a volume of 23,399 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Lindsay from a "hold" rating to a "buy" rating in a report on Thursday. TheStreet lowered shares of Lindsay from a "b-" rating to a "c+" rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus decreased their price target on shares of Lindsay from $129.00 to $123.00 and set a "hold" rating for the company in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $136.50.

Lindsay Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.37 and a current ratio of 3.53. The stock's fifty day moving average price is $121.40 and its 200-day moving average price is $122.84. The company has a market capitalization of $1.26 billion, a P/E ratio of 18.32 and a beta of 0.61.

Lindsay (NYSE:LNN - Get Free Report) last issued its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.12. The company had revenue of $151.50 million for the quarter, compared to analysts' expectations of $172.06 million. Lindsay had a net margin of 10.49% and a return on equity of 15.53%. Lindsay's quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. As a group, research analysts anticipate that Lindsay Co. will post 5.71 EPS for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 annualized dividend and a yield of 1.22%. Lindsay's dividend payout ratio is currently 22.36%.

Institutional Investors Weigh In On Lindsay

Hedge funds and other institutional investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Lindsay in the fourth quarter valued at approximately $28,000. Quest Partners LLC acquired a new stake in shares of Lindsay in the fourth quarter valued at approximately $51,000. CWM LLC raised its position in shares of Lindsay by 129.6% in the fourth quarter. CWM LLC now owns 489 shares of the industrial products company's stock valued at $63,000 after buying an additional 276 shares in the last quarter. Royal Bank of Canada raised its position in shares of Lindsay by 23.6% in the third quarter. Royal Bank of Canada now owns 514 shares of the industrial products company's stock valued at $74,000 after buying an additional 98 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Lindsay by 195.3% in the second quarter. Tower Research Capital LLC TRC now owns 942 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 623 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.