Lindsay (NYSE:LNN) Posts Quarterly Earnings Results, Beats Estimates By $0.42 EPS

Lindsay (NYSE:LNN) released its quarterly earnings data on Thursday. The industrial products company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.42, RTT News reports. Lindsay had a return on equity of 14.66% and a net margin of 11.87%. During the same quarter in the prior year, the business earned $1.85 EPS.

Lindsay Stock Down 0.8%

Lindsay stock opened at $137.11 on Thursday. The company has a 50 day moving average of $134.95 and a 200-day moving average of $130.67. The company has a quick ratio of 2.57, a current ratio of 3.64 and a debt-to-equity ratio of 0.22. Lindsay has a twelve month low of $109.27 and a twelve month high of $147.80. The stock has a market capitalization of $1.49 billion, a PE ratio of 19.50 and a beta of 0.82.

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.44 annualized dividend and a yield of 1.05%. Lindsay’s dividend payout ratio (DPR) is currently 20.48%.

Institutional Investors Weigh In On Lindsay

A number of hedge funds and other institutional investors have recently made changes to their positions in LNN. Jane Street Group LLC boosted its position in Lindsay by 134.4% during the 1st quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company’s stock worth $4,899,000 after acquiring an additional 22,204 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Lindsay by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company’s stock valued at $6,144,000 after acquiring an additional 5,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Lindsay by 7.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,056 shares of the industrial products company’s stock valued at $4,941,000 after purchasing an additional 2,811 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Lindsay by 13.9% in the first quarter. AQR Capital Management LLC now owns 8,043 shares of the industrial products company’s stock valued at $1,018,000 after buying an additional 984 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Lindsay by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,455 shares of the industrial products company’s stock worth $817,000 after acquiring an additional 289 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LNN shares. Stifel Nicolaus dropped their target price on shares of Lindsay from $134.00 to $128.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded Lindsay from a “hold” rating to a “buy” rating in a research report on Friday, April 11th.

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.