Private Capital Management LLC Sells 22,243 Shares of Lakeland Industries, Inc. (NASDAQ:LAKE)

Private Capital Management LLC decreased its position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,207,338 shares of the medical instruments supplier’s stock after selling 22,243 shares during the quarter. Lakeland Industries comprises approximately 4.0% of Private Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Private Capital Management LLC owned about 16.32% of Lakeland Industries worth $22,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LAKE. Hillsdale Investment Management Inc. lifted its stake in Lakeland Industries by 37.2% in the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock valued at $196,000 after buying an additional 2,900 shares in the last quarter. Empowered Funds LLC lifted its stake in Lakeland Industries by 6.9% in the first quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock valued at $199,000 after buying an additional 700 shares in the last quarter. Quadrature Capital Ltd bought a new position in Lakeland Industries in the fourth quarter valued at approximately $236,000. Finally, North Star Investment Management Corp. lifted its stake in Lakeland Industries by 0.9% in the first quarter. North Star Investment Management Corp. now owns 168,573 shares of the medical instruments supplier’s stock valued at $3,085,000 after buying an additional 1,503 shares in the last quarter. Institutional investors own 71.69% of the company’s stock.

Lakeland Industries Stock Performance

Shares of NASDAQ:LAKE traded up $0.16 on Friday, hitting $24.05. The company had a trading volume of 50,281 shares, compared to its average volume of 34,383. Lakeland Industries, Inc. has a 1-year low of $13.63 and a 1-year high of $24.80. The stock has a market cap of $177.44 million, a price-to-earnings ratio of 32.07 and a beta of 0.58. The stock has a 50 day moving average price of $22.92 and a 200 day moving average price of $19.29. The company has a current ratio of 5.39, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Tuesday, June 4th. The medical instruments supplier reported $0.22 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.16). The company had revenue of $36.31 million during the quarter, compared to analyst estimates of $31.90 million. Lakeland Industries had a net margin of 4.34% and a return on equity of 6.84%. Analysts expect that Lakeland Industries, Inc. will post 1.51 EPS for the current year.

Lakeland Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.50%. Lakeland Industries’s payout ratio is presently 16.00%.

Analysts Set New Price Targets

LAKE has been the topic of a number of recent research reports. Maxim Group lifted their price objective on shares of Lakeland Industries from $22.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Roth Mkm lifted their price objective on shares of Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.

Insider Activity

In other news, CEO James M. Jenkins acquired 2,085 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $23.98 per share, with a total value of $49,998.30. Following the completion of the transaction, the chief executive officer now directly owns 75,728 shares of the company’s stock, valued at approximately $1,815,957.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is currently owned by company insiders.

Lakeland Industries 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.