Lindsay (NYSE:LNN) Shares Gap Up - Should You Buy?

Lindsay Co. (NYSE:LNN - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $114.24, but opened at $120.00. Lindsay shares last traded at $131.31, with a volume of 27,686 shares changing hands.

Lindsay Price Performance

The stock has a market capitalization of $1.35 billion, a PE ratio of 18.83 and a beta of 0.61. The company's 50 day simple moving average is $120.85 and its 200 day simple moving average is $118.45. The company has a current ratio of 3.95, a quick ratio of 2.56 and a debt-to-equity ratio of 0.24.

Institutional Trading of Lindsay

A number of hedge funds have recently added to or reduced their stakes in LNN. Heartland Advisors Inc. boosted its position in shares of Lindsay by 26.8% in the first quarter. Heartland Advisors Inc. now owns 53,003 shares of the industrial products company's stock worth $6,236,000 after acquiring an additional 11,207 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lindsay by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company's stock valued at $165,301,000 after purchasing an additional 17,261 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Lindsay during the 2nd quarter valued at $1,327,000. Victory Capital Management Inc. increased its holdings in shares of Lindsay by 139.4% during the 2nd quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company's stock worth $1,446,000 after buying an additional 6,853 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Lindsay in the 2nd quarter worth $6,402,000. 89.94% of the stock is owned by institutional investors and hedge funds.

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.