IFP Advisors Inc Makes New Investment in Lakeland Industries, Inc. (NASDAQ:LAKE)

IFP Advisors Inc purchased a new stake in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,400 shares of the medical instruments supplier’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Royce & Associates LP increased its position in shares of Lakeland Industries by 2.5% during the third quarter. Royce & Associates LP now owns 730,220 shares of the medical instruments supplier’s stock valued at $14,677,000 after acquiring an additional 17,579 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Lakeland Industries during the fourth quarter valued at approximately $2,018,000. Geode Capital Management LLC increased its position in shares of Lakeland Industries by 1.6% during the third quarter. Geode Capital Management LLC now owns 74,273 shares of the medical instruments supplier’s stock valued at $1,493,000 after acquiring an additional 1,177 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Lakeland Industries by 1.6% during the fourth quarter. D.A. Davidson & CO. now owns 43,892 shares of the medical instruments supplier’s stock valued at $1,121,000 after acquiring an additional 698 shares during the last quarter. Finally, Diversified Investment Strategies LLC increased its position in shares of Lakeland Industries by 30.0% during the fourth quarter. Diversified Investment Strategies LLC now owns 32,500 shares of the medical instruments supplier’s stock valued at $830,000 after acquiring an additional 7,500 shares during the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO An Hui purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was purchased at an average cost of $22.00 per share, with a total value of $44,000.00. Following the completion of the acquisition, the chief operating officer now directly owns 53,912 shares of the company’s stock, valued at approximately $1,186,064. The trade was a 3.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nikki Hamblin purchased 1,590 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $22.00 per share, with a total value of $34,980.00. Following the completion of the acquisition, the director now directly owns 17,452 shares of the company’s stock, valued at approximately $383,944. This trade represents a 10.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 11,208 shares of company stock valued at $253,520 over the last ninety days. 4.20% of the stock is currently owned by insiders.

Lakeland Industries Stock Performance

NASDAQ:LAKE opened at $20.93 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.23 and a quick ratio of 1.77. The business has a fifty day simple moving average of $24.41 and a two-hundred day simple moving average of $22.44. Lakeland Industries, Inc. has a 1 year low of $15.10 and a 1 year high of $27.28. The company has a market capitalization of $198.81 million, a P/E ratio of -232.56 and a beta of 0.62.

Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Thursday, December 5th. The medical instruments supplier reported $0.01 earnings per share (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%. On average, analysts expect that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 17th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, February 14th. Lakeland Industries’s dividend payout ratio is currently -133.33%.

Wall Street Analyst Weigh In

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

Lakeland Industries Company 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.