Lindsay (NYSE:LNN) Price Target Cut to $113.00 by Analysts at Stifel Nicolaus

Lindsay (NYSE:LNN) had its price objective cut by Stifel Nicolaus from $128.00 to $113.00 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Lindsay Trading Down 0.4%

NYSE:LNN opened at $102.58 on Monday. The company has a current ratio of 3.02, a quick ratio of 2.43 and a debt-to-equity ratio of 0.23. Lindsay has a 12-month low of $97.27 and a 12-month high of $150.96. The firm has a market cap of $1.07 billion, a P/E ratio of 18.79 and a beta of 0.82. The stock’s 50 day simple moving average is $126.29 and its 200-day simple moving average is $123.90.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The business had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. During the same quarter last year, the firm earned $2.44 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. Equities analysts anticipate that Lindsay will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.37 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. Lindsay’s payout ratio is 27.11%.

Institutional Trading of Lindsay

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Lindsay in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in Lindsay during the third quarter worth $30,000. Copeland Capital Management LLC purchased a new stake in Lindsay during the fourth quarter worth $62,000. Kestra Advisory Services LLC purchased a new stake in Lindsay during the fourth quarter worth $83,000. Finally, Russell Investments Group Ltd. boosted its position in Lindsay by 2,226.8% during the third quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 913 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

About Lindsay

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.