Peapod Lane Capital LLC Invests $2.02 Million in Lakeland Industries, Inc. (NASDAQ:LAKE)

Peapod Lane Capital LLC bought a new stake in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 78,964 shares of the medical instruments supplier’s stock, valued at approximately $2,018,000. Lakeland Industries accounts for about 2.0% of Peapod Lane Capital LLC’s investment portfolio, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of LAKE. Huntington National Bank purchased a new position in shares of Lakeland Industries during the third quarter valued at approximately $41,000. Empowered Funds LLC lifted its stake 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 acquiring an additional 536 shares during the last quarter. Barclays PLC purchased a new position in Lakeland Industries during the 3rd quarter valued at $306,000. High Falls Advisors Inc grew its position in Lakeland Industries by 46.2% in the 3rd quarter. High Falls Advisors Inc now owns 28,472 shares of the medical instruments supplier’s stock valued at $572,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Diversified Investment Strategies LLC grew its position in Lakeland Industries by 30.0% in the 4th 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. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analysts Set New Price Targets

LAKE has been the subject of several research analyst reports. StockNews.com downgraded Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Roth Mkm boosted their price objective on shares of 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 Stock Down 0.3 %

Shares of NASDAQ LAKE opened at $24.45 on Thursday. Lakeland Industries, Inc. has a twelve month low of $15.10 and a twelve month high of $27.28. The business has a fifty day simple moving average of $24.18 and a two-hundred day simple moving average of $22.38. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Thursday, December 5th. The medical instruments supplier reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.39). Lakeland Industries had a negative net margin of 0.42% and a positive return on equity of 1.66%. Equities research analysts predict that Lakeland Industries, Inc. will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 17th will be given a $0.03 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. Lakeland Industries’s payout ratio is presently -133.33%.

Insider Activity

In related news, Director Nikki Hamblin purchased 2,220 shares of Lakeland Industries stock in a transaction dated Monday, December 23rd. The stock was purchased 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 in the company, valued at approximately $366,094.96. The trade was a 16.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laurel A. Yartz acquired 2,272 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were bought at an average price of $22.00 per share, with a total value of $49,984.00. Following the completion of the purchase, the insider now directly owns 9,772 shares in the company, valued at $214,984. The trade was a 30.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,208 shares of company stock worth $253,520. Corporate insiders own 4.20% of the company’s stock.

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.