Lakeland Industries (NASDAQ:LAKE) CFO Roger Shannon Sells 8,869 Shares

Lakeland Industries, Inc. (NASDAQ:LAKE) CFO Roger Shannon sold 8,869 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $8.06, for a total transaction of $71,484.14. Following the completion of the transaction, the chief financial officer owned 36,026 shares in the company, valued at $290,369.56. The trade was a 19.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lakeland Industries Stock Performance

NASDAQ LAKE opened at $8.26 on Friday. The stock has a market cap of $81.03 million, a PE ratio of -1.88 and a beta of 1.33. Lakeland Industries, Inc. has a twelve month low of $7.97 and a twelve month high of $27.28. The stock has a fifty day simple moving average of $14.72 and a 200-day simple moving average of $14.74. The company has a current ratio of 3.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Wednesday, September 21st. The medical instruments supplier reported $0.36 earnings per share for the quarter. The firm had revenue of $27.47 million during the quarter. Lakeland Industries had a negative net margin of 19.41% and a negative return on equity of 7.80%. Equities analysts anticipate that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.5%. Lakeland Industries’s payout ratio is presently -2.73%.

Hedge Funds Weigh In On Lakeland Industries

Several large investors have recently bought and sold shares of LAKE. BNP Paribas Financial Markets lifted its holdings in Lakeland Industries by 87.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 839 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Lakeland Industries in the second quarter valued at approximately $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Lakeland Industries in the second quarter valued at approximately $31,000. Tripletail Wealth Management LLC purchased a new position in Lakeland Industries in the third quarter valued at approximately $49,000. Finally, Bank of America Corp DE raised its holdings in Lakeland Industries by 189.9% during the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock worth $57,000 after purchasing an additional 2,736 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Lakeland Industries in a research note on Wednesday, October 8th. Lake Street Capital cut their price target on shares of Lakeland Industries from $26.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. UBS Group set a $14.00 price objective on shares of Lakeland Industries in a report on Wednesday, December 10th. Wall Street Zen downgraded shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Finally, DA Davidson reissued a “neutral” rating and issued a $14.00 price target (down previously from $20.00) on shares of Lakeland Industries in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.50.

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.