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

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 Friday, August 1st, Wall Street Journal reports. Investors of record on Friday, August 15th will be paid a dividend of 0.03 per share by the medical instruments supplier on Friday, August 22nd. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 15th.

Lakeland Industries has a payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.7%

Shares of NASDAQ:LAKE traded down $0.24 on Friday, hitting $14.11. 38,743 shares of the company's stock were exchanged, compared to its average volume of 131,350. Lakeland Industries has a 12 month low of $12.76 and a 12 month high of $27.28. The stock has a market capitalization of $134.26 million, a price-to-earnings ratio of -4.69 and a beta of 1.01. The business's 50 day simple moving average is $14.65 and its two-hundred day simple moving average is $18.18. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.88 and a quick ratio of 1.51.

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

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. raised its position in shares of Lakeland Industries by 16.3% during the 4th quarter. American Century Companies Inc. now owns 14,012 shares of the medical instruments supplier's stock worth $358,000 after acquiring an additional 1,965 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Lakeland Industries in the fourth quarter valued at approximately $160,000. Susquehanna International Group LLP boosted its stake in shares of Lakeland Industries by 261.9% in the fourth quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier's stock valued at $2,515,000 after buying an additional 71,224 shares in the last quarter. Northern Trust Corp boosted its position in Lakeland Industries by 4.5% during the fourth quarter. Northern Trust Corp now owns 14,799 shares of the medical instruments supplier's stock worth $378,000 after purchasing an additional 635 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Lakeland Industries during the fourth quarter worth $362,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

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.