Millennium Management LLC Boosts Holdings in Lakeland Industries, Inc. (NASDAQ:LAKE)

Millennium Management LLC increased its holdings in Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) by 166.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,783 shares of the medical instruments supplier's stock after buying an additional 17,344 shares during the quarter. Millennium Management LLC owned 0.29% of Lakeland Industries worth $710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Northern Trust Corp boosted its holdings in shares of Lakeland Industries by 4.5% in the fourth quarter. Northern Trust Corp now owns 14,799 shares of the medical instruments supplier's stock worth $378,000 after buying an additional 635 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Lakeland Industries by 1.6% in the fourth quarter. D.A. Davidson & CO. now owns 43,892 shares of the medical instruments supplier's stock worth $1,121,000 after buying an additional 698 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Lakeland Industries in the fourth quarter worth approximately $36,000. American Century Companies Inc. boosted its holdings in shares of 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 worth $358,000 after buying an additional 1,965 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Lakeland Industries by 6.8% in the fourth quarter. Bank of New York Mellon Corp now owns 46,001 shares of the medical instruments supplier's stock worth $1,175,000 after buying an additional 2,928 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company's stock.

Analyst Ratings Changes

LAKE has been the topic of a number of recent analyst reports. Lake Street Capital initiated coverage on shares of Lakeland Industries in a research note on Tuesday, March 11th. They set a "buy" rating and a $30.00 target price on the stock. DA Davidson decreased their target price on shares of Lakeland Industries from $28.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of Lakeland Industries to a "sell" rating in a research note on Wednesday, May 7th.

Lakeland Industries Price Performance

NASDAQ LAKE opened at $18.02 on Friday. The stock has a market cap of $171.39 million, a price-to-earnings ratio of -200.22 and a beta of 1.13. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. Lakeland Industries, Inc. has a 12 month low of $14.58 and a 12 month high of $27.28. The company's 50 day moving average is $17.49 and its two-hundred day moving average is $21.11.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $47.10 million. Lakeland Industries had a negative net margin of 0.42% and a positive return on equity of 1.66%. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, research analysts anticipate that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, May 15th. Lakeland Industries's 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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