Lindsay (NYSE:LNN) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Lindsay (NYSE:LNN - Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday.

Separately, Stifel Nicolaus boosted their target price on shares of Lindsay from $126.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, January 8th.

Lindsay Stock Performance

LNN traded down $1.58 during trading on Monday, reaching $135.52. 79,153 shares of the company's stock were exchanged, compared to its average volume of 76,442. 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 stock has a market capitalization of $1.47 billion, a P/E ratio of 21.75 and a beta of 0.67. The company's fifty day simple moving average is $128.54 and its 200-day simple moving average is $124.84. Lindsay has a 1 year low of $109.27 and a 1 year high of $140.26.

Lindsay (NYSE:LNN - Get Free Report) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to analysts' expectations of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, research analysts predict that Lindsay will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. Lindsay's dividend payout ratio (DPR) is currently 23.11%.

Hedge Funds Weigh In On Lindsay

Large investors have recently bought and sold shares of the stock. US Bancorp DE increased its stake in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company's stock worth $33,000 after buying an additional 84 shares during the period. AlphaQuest LLC bought a new stake in Lindsay in the 4th quarter valued at about $32,000. GAMMA Investing LLC lifted its position in Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 131 shares during the last quarter. CWM LLC lifted its position in Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 92 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Lindsay by 10.3% during the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock worth $109,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Company Profile

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.