Lakeland Industries, Inc. to Issue Quarterly Dividend of $0.03 (NASDAQ:LAKE)

Key Points

• Lakeland Industries announced a quarterly dividend of $0.03 per share, with shareholders of record receiving it on August 22nd, representing an annual yield of 0.9%.
• The company experienced a negative earnings per share of ($0.41) for the last quarter, missing the consensus estimate, and has a negative net margin of 13.31%.
• Institutional investors currently hold 71.69% of Lakeland Industries' stock, with various funds increasing their stakes in the second quarter.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) announced a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Shareholders of record on Friday, August 15th will be given a dividend of 0.03 per share by the medical instruments supplier on Friday, August 22nd. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th.

Lakeland Industries has a dividend payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lakeland Industries to earn $1.66 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 7.2%.

Lakeland Industries Price Performance

Shares of NASDAQ:LAKE traded up $0.41 during midday trading on Monday, reaching $13.76. 55,351 shares of the company's stock were exchanged, compared to its average volume of 133,040. The company's 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $18.40. The firm has a market capitalization of $130.86 million, a PE ratio of -4.57 and a beta of 1.01. Lakeland Industries has a 12 month low of $12.76 and a 12 month high of $27.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.51 and a current ratio of 3.88.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last announced 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 net margin of 13.31% and a negative return on equity of 6.88%. The firm had revenue of $46.75 million for the quarter, compared to the consensus estimate of $48.84 million. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts expect that Lakeland Industries will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAKE. Delta Investment Management LLC increased its position in shares of Lakeland Industries by 8.6% during the second quarter. Delta Investment Management LLC now owns 36,317 shares of the medical instruments supplier's stock valued at $494,000 after buying an additional 2,863 shares during the period. D.A. Davidson & CO. increased its position in shares of Lakeland Industries by 5.6% during the second quarter. D.A. Davidson & CO. now owns 45,673 shares of the medical instruments supplier's stock valued at $622,000 after buying an additional 2,426 shares during the period. Diversified Investment Strategies LLC increased its position in shares of Lakeland Industries by 2.6% in the second quarter. Diversified Investment Strategies LLC now owns 40,000 shares of the medical instruments supplier's stock worth $544,000 after purchasing an additional 1,000 shares during the last quarter. Equitable Trust Co. increased its position in shares of Lakeland Industries by 32.0% in the second quarter. Equitable Trust Co. now owns 28,615 shares of the medical instruments supplier's stock worth $389,000 after purchasing an additional 6,945 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Lakeland Industries by 22.9% in the second quarter. North Star Investment Management Corp. now owns 157,475 shares of the medical instruments supplier's stock worth $2,143,000 after purchasing an additional 29,292 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors.

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.

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