Delta Investment Management LLC Acquires Shares of 17,400 Lakeland Industries, Inc. (NASDAQ:LAKE)

Delta Investment 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 Securities & Exchange Commission. The fund purchased 17,400 shares of the medical instruments supplier's stock, valued at approximately $445,000. Delta Investment Management LLC owned approximately 0.18% of Lakeland Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LAKE. Barclays PLC bought a new position in shares of Lakeland Industries in the third quarter valued at approximately $306,000. First Eagle Investment Management LLC purchased a new stake in Lakeland Industries in the 4th quarter worth approximately $571,000. Susquehanna International Group LLP boosted its holdings in Lakeland Industries by 261.9% in the 4th quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier's stock valued at $2,515,000 after purchasing an additional 71,224 shares during the period. IFP Advisors Inc purchased a new position in shares of Lakeland Industries during the 4th quarter valued at $36,000. Finally, Expect Equity LLC purchased a new position in shares of Lakeland Industries during the 4th quarter valued at $1,809,000. Hedge funds and other institutional investors own 71.69% of the company's stock.

Lakeland Industries Price Performance

NASDAQ:LAKE traded down $0.53 during midday trading on Friday, hitting $18.24. The company had a trading volume of 64,631 shares, compared to its average volume of 65,653. The company has a market capitalization of $173.48 million, a PE ratio of -202.67 and a beta of 1.10. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25. Lakeland Industries, Inc. has a 52-week low of $14.58 and a 52-week high of $27.28. The stock's fifty day moving average price is $17.74 and its 200-day moving average price is $21.24.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The medical instruments supplier reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.97). The firm had revenue of $46.60 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company posted $0.72 earnings per share. As a group, research analysts expect that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $0.03 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.66%. Lakeland Industries's payout ratio is -5.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LAKE shares. DA Davidson dropped their price objective on Lakeland Industries from $28.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen raised Lakeland Industries to a "sell" rating in a report on Wednesday, May 7th. Finally, Lake Street Capital started coverage on Lakeland Industries in a report on Tuesday, March 11th. They set a "buy" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $27.00.

Lakeland Industries 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.