Short interest at Lindsay Co. (NYSE:LNN) up 12.2%

VaselineAugust 19, 2024

0 3 minutes read

Lindsay Co. (NYSE:LNN – Get Free Report ) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 435,800 shares, an increase of 12.2% from the July 15th total of 388,500 shares. Currently, 4.0% of the company’s shares are short sold. Based on an average trading volume of 116,900 shares, the short interest rate is currently 3.7 days.

Lindsay Price Performance

Shares of LNN stock opened at $121.21 on Monday. Lindsay has a fifty-two week low of $106.46 and a fifty-two week high of $137.31. The company has a 50-day moving average price of $118.05 and a 200-day moving average price of $118.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56, and a current ratio of 3.95. The stock has a market cap of $1.32 billion, a PE ratio of 18.39 and a beta of 0.61.

Lindsay (NYSE:LNN – Get Your Free Report ) last released its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.68. The firm had revenue of $139.20 million during the quarter, compared to analysts’ expectations of $144.38 million. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. Lindsay’s revenue was down 15.4% compared to the same quarter last year. In the same period last year, the company earned $1.53 per share. equities analysts predict that Lindsay will post 5.44 earnings per share for the current fiscal year.

Lindsay increases dividend

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The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.36 dividend. This is a positive change from Lindsay’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, August 16. This represents an annualized dividend of $1.44 and a yield of 1.19%. Lindsay’s dividend payout ratio (DPR) is currently 21.85%.

Indoor activity at Lindsay

In other news, insider James Scott Marion sold 700 shares of Lindsay stock in a transaction on Monday, July 15th. The shares were sold at an average price of $119.00, for a total transaction of $83,300.00. Following the transaction, the insider now owns 6,278 shares in the company, valued at approximately $747,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Hedge funds are weighing on Lindsay

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Lindsay by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,284,033 shares of the industrial products company’s stock worth $151,079,000 after acquiring an additional 4,214 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Lindsay by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock valued at $41,975,000 after acquiring an additional 21,474 shares in the last quarter. Robeco Schweiz AG grew its position in Lindsay by 2.4% in the fourth quarter. Robeco Schweiz AG now owns 137,884 shares of the industrial products company’s stock worth $17,809,000 after purchasing an additional 3,187 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Lindsay by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 117,954 shares of the industrial products company’s stock worth $15,235,000 after purchasing an additional 5,132 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in shares of Lindsay by 7.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 116,812 shares of the industrial products company’s stock valued at $15,087,000 after purchasing an additional 8,096 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s shares.

Lindsay Company Profile

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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 movement irrigation systems and irrigation controls under the Zimmatic brand; hose reels 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.