Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

Lakeland Industries, Inc. (NASDAQ:LAKE) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 25,300 shares, a drop of 40.7% from the May 15th total of 42,700 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 36,200 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LAKE shares. Maxim Group raised their price target on Lakeland Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. StockNews.com lowered shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.

Insider Buying and Selling

In other Lakeland Industries news, CEO James M. Jenkins purchased 2,085 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average price of $23.98 per share, for a total transaction of $49,998.30. Following the transaction, the chief executive officer now owns 75,728 shares in the company, valued at approximately $1,815,957.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Lakeland Industries

Several hedge funds have recently bought and sold shares of LAKE. Barclays PLC purchased a new stake in shares of Lakeland Industries during the third quarter worth about $53,000. Hillsdale Investment Management Inc. grew its position in shares of Lakeland Industries by 37.2% during the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock valued at $196,000 after purchasing an additional 2,900 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Lakeland Industries by 6.9% in the 1st quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock worth $199,000 after buying an additional 700 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Lakeland Industries during the 4th quarter valued at approximately $236,000. Finally, Equitable Trust Co. lifted its stake in shares of Lakeland Industries by 10.7% during the 4th quarter. Equitable Trust Co. now owns 27,665 shares of the medical instruments supplier’s stock worth $513,000 after acquiring an additional 2,680 shares during the last quarter. Institutional investors own 71.69% of the company’s stock.

Lakeland Industries Stock Up 2.5 %

Lakeland Industries stock traded up $0.56 during trading hours on Thursday, hitting $22.87. The stock had a trading volume of 33,722 shares, compared to its average volume of 29,200. The stock has a market capitalization of $168.78 million, a P/E ratio of 29.89 and a beta of 0.50. The company has a quick ratio of 2.74, a current ratio of 5.39 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $17.86 and its 200-day moving average price is $17.31. Lakeland Industries has a 12-month low of $12.52 and a 12-month high of $24.65.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Wednesday, April 10th. The medical instruments supplier reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). Lakeland Industries had a return on equity of 6.84% and a net margin of 4.34%. The company had revenue of $31.20 million during the quarter, compared to the consensus estimate of $32.50 million. Equities research analysts anticipate that Lakeland Industries will post 1.39 EPS for the current fiscal year.

Lakeland Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, May 14th. This represents a $0.12 annualized dividend and a yield of 0.52%. Lakeland Industries’s dividend payout ratio (DPR) is 16.00%.

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.