66,392 Shares in Lakeland Industries, Inc. (NASDAQ:LAKE) Bought by Evernest Financial Advisors LLC

Key Points

• Evernest Financial Advisors LLC acquired 66,392 shares of Lakeland Industries, valued at approximately $1,348,000, having owned about 0.70% of the company by the end of the last quarter.
• A number of institutional investors increased their stakes in Lakeland Industries, with Royce & Associates LP growing its position by 9.4% to 931,920 shares.
• Lakeland Industries recently reported a loss of $0.41 per share in its latest quarterly earnings, missing the analyst consensus estimate of $0.27.

Evernest Financial Advisors LLC bought a new stake in shares of Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 66,392 shares of the medical instruments supplier's stock, valued at approximately $1,348,000. Evernest Financial Advisors LLC owned approximately 0.70% of Lakeland Industries at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LAKE. Russell Investments Group Ltd. bought a new stake in Lakeland Industries in the fourth quarter valued at about $160,000. Bank of America Corp DE increased its holdings in Lakeland Industries by 114.1% in the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier's stock valued at $196,000 after buying an additional 4,081 shares during the last quarter. American Century Companies Inc. increased its holdings in Lakeland Industries by 16.3% in the fourth quarter. American Century Companies Inc. now owns 14,012 shares of the medical instruments supplier's stock valued at $358,000 after buying an additional 1,965 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Lakeland Industries in the fourth quarter valued at about $362,000. Finally, Northern Trust Corp increased its holdings in Lakeland Industries by 4.5% in the fourth quarter. Northern Trust Corp now owns 14,799 shares of the medical instruments supplier's stock valued at $378,000 after buying an additional 635 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Industries Stock Performance

Shares of NASDAQ LAKE traded down $0.35 during midday trading on Monday, hitting $13.78. 39,431 shares of the company's stock were exchanged, compared to its average volume of 131,115. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.88 and a quick ratio of 1.51. The stock's 50 day moving average price is $14.55 and its 200-day moving average price is $18.01. The firm has a market cap of $131.12 million, a P/E ratio of -4.58 and a beta of 1.01. Lakeland Industries, Inc. has a twelve month low of $12.76 and a twelve month high of $27.28.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The medical instruments supplier reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.68). The business had revenue of $46.75 million for the quarter, compared to analyst estimates of $48.84 million. Lakeland Industries had a negative return on equity of 6.88% and a negative net margin of 13.31%. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Equities research analysts anticipate that Lakeland Industries, Inc. will post 0.48 EPS for the current year.

Lakeland Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Lakeland Industries's dividend payout ratio is -3.99%.

Wall Street Analyst Weigh In

LAKE has been the subject of several recent research reports. Wall Street Zen raised Lakeland Industries to a "sell" rating in a report on Wednesday, May 7th. Lake Street Capital set a $26.00 target price on Lakeland Industries and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, DA Davidson lowered their target price on Lakeland Industries from $28.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th.

About Lakeland Industries

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.