683 Capital Management LLC Buys New Stake in Lakeland Industries, Inc. (NASDAQ:LAKE)

683 Capital Management LLC purchased a new stake in Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 18,500 shares of the medical instruments supplier's stock, valued at approximately $473,000. 683 Capital Management LLC owned approximately 0.19% of Lakeland Industries at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc purchased a new stake in shares of Lakeland Industries during the 4th quarter valued at about $36,000. Russell Investments Group Ltd. acquired a new stake in shares of Lakeland Industries during the fourth quarter worth approximately $160,000. Metis Global Partners LLC bought a new stake in shares of Lakeland Industries in the fourth quarter worth $207,000. Barclays PLC acquired a new stake in Lakeland Industries in the third quarter valued at $306,000. Finally, American Century Companies Inc. boosted its stake in Lakeland Industries by 16.3% during the 4th quarter. American Century Companies Inc. now owns 14,012 shares of the medical instruments supplier's stock valued at $358,000 after acquiring an additional 1,965 shares during the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LAKE. StockNews.com upgraded shares of Lakeland Industries to a "sell" rating in a research note on Wednesday, April 23rd. Lake Street Capital initiated coverage on Lakeland Industries in a report on Tuesday, March 11th. They set a "buy" rating and a $30.00 target price on the stock. Finally, DA Davidson lowered their price target on Lakeland Industries from $28.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

Lakeland Industries Stock Performance

Shares of NASDAQ LAKE opened at $16.84 on Friday. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25. The firm's 50-day moving average price is $18.72 and its two-hundred day moving average price is $21.48. Lakeland Industries, Inc. has a 52-week low of $14.58 and a 52-week high of $27.28. The stock has a market capitalization of $159.96 million, a P/E ratio of -187.11 and a beta of 0.86.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The medical instruments supplier reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.97). The company had revenue of $46.60 million during the quarter, compared to the consensus estimate of $47.10 million. Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. During the same period last year, the business posted $0.72 EPS. As a group, sell-side analysts forecast that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.71%. Lakeland Industries's dividend payout ratio is currently -5.04%.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.

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