Private Capital Management LLC Reduces Stake in Lakeland Industries, Inc. (NASDAQ:LAKE)

Private Capital Management LLC lessened its stake in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) by 10.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,003,299 shares of the medical instruments supplier’s stock after selling 121,947 shares during the quarter. Lakeland Industries comprises 4.0% of Private Capital Management LLC’s portfolio, making the stock its 15th largest holding. Private Capital Management LLC owned approximately 0.11% of Lakeland Industries worth $20,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LAKE. Empowered Funds LLC boosted its position in shares of Lakeland Industries by 4.6% in the third quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock valued at $244,000 after acquiring an additional 536 shares during the period. D.A. Davidson & CO. lifted its stake in Lakeland Industries by 1.6% in the 4th quarter. D.A. Davidson & CO. now owns 43,892 shares of the medical instruments supplier’s stock worth $1,121,000 after purchasing an additional 698 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lakeland Industries by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 74,273 shares of the medical instruments supplier’s stock valued at $1,493,000 after purchasing an additional 1,177 shares during the period. IFP Advisors Inc purchased a new position in shares of Lakeland Industries during the 4th quarter valued at $36,000. Finally, Huntington National Bank bought a new position in shares of Lakeland Industries in the third quarter worth $41,000. 71.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lakeland Industries news, COO An Hui purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average cost of $22.00 per share, with a total value of $44,000.00. Following the completion of the purchase, the chief operating officer now owns 53,912 shares of the company’s stock, valued at $1,186,064. The trade was a 3.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nikki Hamblin acquired 2,220 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $23.08 per share, with a total value of $51,237.60. Following the completion of the acquisition, the director now owns 15,862 shares in the company, valued at approximately $366,094.96. The trade was a 16.27 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 11,208 shares of company stock valued at $253,520 over the last 90 days. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lifted their price objective on Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th.

Lakeland Industries Stock Up 0.2 %

LAKE stock opened at $23.49 on Friday. The company’s 50 day moving average is $24.45 and its 200 day moving average is $22.47. The stock has a market cap of $223.13 million, a price-to-earnings ratio of -261.00 and a beta of 0.62. 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 1-year low of $15.10 and a 1-year high of $27.28.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Thursday, December 5th. The medical instruments supplier reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.39). Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. Sell-side analysts predict that Lakeland Industries, Inc. will post 0.48 EPS for the current fiscal year.

Lakeland Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 17th were given a dividend of $0.03 per share. The ex-dividend date was Friday, February 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.51%. Lakeland Industries’s payout ratio is -133.33%.

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.