Bank of New York Mellon Corp Sells 882 Shares of Lakeland Industries, Inc. (NASDAQ:LAKE)

Bank of New York Mellon Corp decreased its position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,697 shares of the medical instruments supplier’s stock after selling 882 shares during the period. Bank of New York Mellon Corp owned 0.58% of Lakeland Industries worth $979,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in shares of Lakeland Industries during the 4th quarter worth about $236,000. Hillsdale Investment Management Inc. boosted its position in shares of 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 acquiring an additional 2,900 shares during the period. North Star Investment Management Corp. grew its stake in shares of 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 worth $3,085,000 after acquiring an additional 1,503 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Lakeland Industries by 6.9% during the first quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock worth $199,000 after acquiring an additional 700 shares during the period. 71.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LAKE has been the subject of a number of research reports. Roth Mkm increased their price target 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. StockNews.com downgraded Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Maxim Group raised their price objective on Lakeland Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th.

Lakeland Industries Trading Up 1.1 %

Shares of LAKE stock opened at $20.23 on Friday. The firm has a fifty day moving average of $22.74 and a 200-day moving average of $20.11. The stock has a market cap of $149.26 million, a price-to-earnings ratio of 26.97 and a beta of 0.57. Lakeland Industries, Inc. has a 52-week low of $13.86 and a 52-week high of $26.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.74 and a current ratio of 4.24.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.61). The business had revenue of $38.51 million during the quarter, compared to analyst estimates of $41.10 million. Lakeland Industries had a return on equity of 3.70% and a net margin of 1.38%. During the same period last year, the company earned $0.32 EPS. On average, equities research analysts forecast that Lakeland Industries, Inc. will post 0.96 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.59%. The ex-dividend date was Thursday, August 15th. Lakeland Industries’s dividend payout ratio 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.