Insider Buying: Lakeland Industries, Inc. (NASDAQ:LAKE) Director Acquires $51,237.60 in Stock

Lakeland Industries, Inc. (NASDAQ:LAKE) Director Nikki Hamblin bought 2,220 shares of Lakeland Industries stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $23.08 per share, with a total value of $51,237.60. Following the transaction, the director now owns 15,862 shares of the company’s stock, valued at $366,094.96. This trade represents a 16.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lakeland Industries Stock Up 1.5 %

Shares of NASDAQ LAKE opened at $24.72 on Monday. Lakeland Industries, Inc. has a 52 week low of $15.10 and a 52 week high of $26.10. The stock’s fifty day moving average is $21.64 and its 200 day moving average is $21.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.00 and a current ratio of 4.23. The stock has a market capitalization of $183.08 million, a P/E ratio of -274.67 and a beta of 0.63.

Lakeland Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, November 15th. Lakeland Industries’s payout ratio is presently -133.33%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Roth Mkm lifted their price objective on shares of Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. StockNews.com downgraded shares of Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

Institutional Trading of Lakeland Industries

Several large investors have recently made changes to their positions in LAKE. Huntington National Bank bought a new stake in Lakeland Industries during the third quarter worth $41,000. Inspire Advisors LLC acquired a new position in shares of Lakeland Industries during the 2nd quarter worth $222,000. Empowered Funds LLC lifted its position in shares of Lakeland Industries by 4.6% during the 3rd quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock worth $244,000 after buying an additional 536 shares during the last quarter. Barclays PLC acquired a new stake in Lakeland Industries in the third quarter valued at about $306,000. Finally, High Falls Advisors Inc grew its position in Lakeland Industries by 35.8% in the second quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock valued at $447,000 after acquiring an additional 5,137 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.