Lindsay Co. (NYSE:LNN – Get Free Report) declared a quarterly dividend on Friday, June 28th, RTT News reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.36 per share by the industrial products company on Friday, August 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Lindsay’s previous quarterly dividend of $0.35.
Lindsay has increased its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 22 years. Lindsay has a payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lindsay to earn $5.54 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.0%.
Lindsay Price Performance
LNN opened at $116.97 on Wednesday. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31. The stock has a fifty day moving average price of $117.70 and a 200 day moving average price of $118.53. The company has a current ratio of 3.95, a quick ratio of 2.56 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 17.75 and a beta of 0.61.
Insider Activity at Lindsay
In other news, insider James Scott Marion sold 700 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $119.00, for a total value of $83,300.00. Following the completion of the sale, the insider now directly owns 6,278 shares in the company, valued at $747,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by company insiders.
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.
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