Lindsay Corp. (NYSE:LNN) has received a consensus recommendation of “Hold” from the eight research firms that are covering the company. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $71.40.
LNN has been the subject of a number of recent research reports. TheStreet upgraded Lindsay Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 1st. Zacks Investment Research lowered Lindsay Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th.
Several institutional investors have recently made changes to their positions in the stock. Mason Street Advisors LLC acquired a new position in shares of Lindsay Corp. during the second quarter valued at $143,000. Schwab Charles Investment Management Inc. raised its position in shares of Lindsay Corp. by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,326 shares of the company’s stock valued at $3,687,000 after buying an additional 2,190 shares in the last quarter. Legal & General Group Plc raised its position in shares of Lindsay Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 2,911 shares of the company’s stock valued at $205,000 after buying an additional 84 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Lindsay Corp. during the second quarter valued at $202,000. Finally, Paloma Partners Management Co raised its position in shares of Lindsay Corp. by 29.2% in the second quarter. Paloma Partners Management Co now owns 7,496 shares of the company’s stock valued at $508,000 after buying an additional 1,696 shares in the last quarter.
Shares of Lindsay Corp. (NYSE:LNN) opened at 73.98 on Wednesday. The stock has a market capitalization of $786.41 million, a P/E ratio of 88.92 and a beta of 0.82. Lindsay Corp. has a 12 month low of $62.99 and a 12 month high of $79.27. The firm’s 50-day moving average price is $72.23 and its 200-day moving average price is $71.51.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.57%. Lindsay Corp.’s dividend payout ratio is presently 133.33%.
Lindsay Corp. Company Profile
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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