North Star Investment Management Corp. reduced its holdings in Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,183 shares of the medical instruments supplier's stock after selling 37,998 shares during the quarter. North Star Investment Management Corp. owned 1.35% of Lakeland Industries worth $2,603,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in LAKE. Northern Trust Corp raised its stake in shares of Lakeland Industries by 4.5% in the 4th 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 in 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 period. IFP Advisors Inc purchased a new position in Lakeland Industries during the 4th quarter worth approximately $36,000. American Century Companies Inc. boosted its position 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 period. Finally, Bank of New York Mellon Corp grew its stake in Lakeland Industries by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 46,001 shares of the medical instruments supplier's stock valued at $1,175,000 after acquiring an additional 2,928 shares in the last quarter. Institutional investors own 71.69% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Lake Street Capital set a $26.00 price target on shares of Lakeland Industries and gave the company a "buy" rating in a report on Tuesday, June 10th. DA Davidson reduced their price objective on shares of Lakeland Industries from $28.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Wall Street Zen upgraded Lakeland Industries to a "sell" rating in a research note on Wednesday, May 7th.
Read Our Latest Stock Analysis on LAKE
Lakeland Industries Stock Performance
Shares of LAKE stock traded down $0.44 during mid-day trading on Wednesday, reaching $12.81. The stock had a trading volume of 242,453 shares, compared to its average volume of 76,595. The firm's 50 day simple moving average is $17.10 and its 200 day simple moving average is $20.78. The company has a quick ratio of 1.51, a current ratio of 3.88 and a debt-to-equity ratio of 0.17. The firm has a market cap of $121.82 million, a PE ratio of -4.26 and a beta of 1.13. Lakeland Industries, Inc. has a one year low of $12.75 and a one year high of $27.28.
Lakeland Industries (NASDAQ:LAKE - Get Free Report) last posted its quarterly earnings results 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). Lakeland Industries had a negative return on equity of 6.88% and a negative net margin of 13.31%. The business had revenue of $46.75 million during the quarter, compared to analyst estimates of $48.84 million. During the same period last year, the company earned $0.22 EPS. On average, analysts forecast that Lakeland Industries, Inc. will post 0.48 EPS for the current year.
Lakeland Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, May 15th. Lakeland Industries's dividend payout ratio (DPR) is -3.99%.
Lakeland Industries Company Profile
(
Free Report)
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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