Royce & Associates LP Raises Holdings in Lakeland Industries, Inc. (NASDAQ:LAKE)

Key Points

• Royce & Associates LP increased its stake in Lakeland Industries by 9.4%, acquiring an additional 79,940 shares, bringing its total ownership to 931,920 shares, valued at approximately $18.93 million.
• Multiple hedge funds adjusted their holdings in Lakeland Industries, with institutional investors now owning 71.69% of the company's stock.
• Lakeland Industries reported a loss of ($0.41) EPS in its latest quarterly earnings, falling short of analyst expectations, while announcing a quarterly dividend of $0.03 per share.

Royce & Associates LP lifted its position in Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 931,920 shares of the medical instruments supplier's stock after purchasing an additional 79,940 shares during the quarter. Royce & Associates LP owned about 9.81% of Lakeland Industries worth $18,927,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Delta Investment Management LLC purchased a new position in shares of Lakeland Industries in the fourth quarter worth about $445,000. Private Capital Management LLC raised its stake in shares of Lakeland Industries by 0.4% in the fourth quarter. Private Capital Management LLC now owns 1,007,391 shares of the medical instruments supplier's stock worth $25,739,000 after purchasing an additional 4,092 shares during the last quarter. Millennium Management LLC raised its stake in shares of Lakeland Industries by 166.1% in the fourth quarter. Millennium Management LLC now owns 27,783 shares of the medical instruments supplier's stock worth $710,000 after purchasing an additional 17,344 shares during the last quarter. Expect Equity LLC purchased a new position in shares of Lakeland Industries in the fourth quarter worth about $1,809,000. Finally, Bank of America Corp DE raised its stake in shares of 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 worth $196,000 after purchasing an additional 4,081 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Industries Stock Performance

LAKE stock traded up $0.10 during trading on Monday, hitting $15.06. 34,302 shares of the company traded hands, compared to its average volume of 134,496. The stock's 50-day simple moving average is $15.53 and its 200 day simple moving average is $18.82. 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 company has a market cap of $143.21 million, a PE ratio of -5.00 and a beta of 1.01. Lakeland Industries, Inc. has a 1 year low of $12.76 and a 1 year 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) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.68). Lakeland Industries had a negative net margin of 13.31% and a negative return on equity of 6.88%. The business had revenue of $46.75 million during the quarter, compared to analyst estimates of $48.84 million. During the same period in the previous year, the business posted $0.22 earnings per share. On average, equities analysts expect that Lakeland Industries, Inc. will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.80%. The ex-dividend date was Thursday, May 15th. Lakeland Industries's payout ratio is currently -3.99%.

Analysts Set New Price Targets

Several analysts recently commented on LAKE shares. Wall Street Zen raised Lakeland Industries to a "sell" rating in a report on Wednesday, May 7th. DA Davidson reduced their price target on Lakeland Industries from $28.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Lake Street Capital set a $26.00 price target on Lakeland Industries and gave the company a "buy" rating in a research report on Tuesday, June 10th.

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.