Lindsay (NYSE:LNN) Given New $130.00 Price Target at Stifel Nicolaus

Lindsay (NYSE:LNN) had its target price raised by Stifel Nicolaus from $126.00 to $130.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Separately, StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday.

Lindsay Stock Up 2.4 %

Lindsay stock opened at $122.66 on Wednesday. The business has a 50 day simple moving average of $125.62 and a 200-day simple moving average of $121.87. Lindsay has a 12 month low of $109.27 and a 12 month high of $135.20. The stock has a market capitalization of $1.33 billion, a PE ratio of 20.38 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.18. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same period last year, the firm posted $1.36 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Lindsay will post 5.64 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. Lindsay’s payout ratio is 23.11%.

Institutional Investors Weigh In On Lindsay

Several hedge funds and other institutional investors have recently bought and sold shares of LNN. Royce & Associates LP grew its stake in shares of Lindsay by 1.6% in the 3rd quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock valued at $50,442,000 after buying an additional 6,253 shares during the period. KBC Group NV grew its position in Lindsay by 32.7% in the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock worth $42,768,000 after acquiring an additional 84,560 shares during the period. Dimensional Fund Advisors LP grew its position in Lindsay by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after acquiring an additional 21,474 shares during the period. Wellington Management Group LLP increased its stake in Lindsay by 35.4% during the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock worth $17,222,000 after acquiring an additional 36,128 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Lindsay by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after purchasing an additional 5,007 shares during the period. 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.