Bridgeway Capital Management LLC Cuts Stock Holdings in Lakeland Industries, Inc. (NASDAQ:LAKE)

Bridgeway Capital Management LLC reduced its stake in Lakeland Industries, Inc. (NASDAQ:LAKE) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,216 shares of the medical instruments supplier’s stock after selling 6,770 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Lakeland Industries were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC purchased a new position in shares of Lakeland Industries in the 3rd quarter worth about $306,000. First Eagle Investment Management LLC purchased a new position in shares of Lakeland Industries during the 4th quarter valued at about $571,000. IFP Advisors Inc bought a new stake in Lakeland Industries in the 4th quarter worth approximately $36,000. Peapod Lane Capital LLC purchased a new stake in Lakeland Industries in the fourth quarter worth approximately $2,018,000. Finally, Bank of New York Mellon Corp grew its position in Lakeland Industries by 6.8% during the fourth quarter. Bank of New York Mellon Corp now owns 46,001 shares of the medical instruments supplier’s stock valued at $1,175,000 after acquiring an additional 2,928 shares during the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LAKE has been the subject of a number of recent research reports. DA Davidson lowered their price objective on shares of Lakeland Industries from $28.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. StockNews.com raised shares of Lakeland Industries to a “sell” rating in a research note on Wednesday, May 7th. Finally, Lake Street Capital started coverage on shares of Lakeland Industries in a research report on Tuesday, March 11th. They set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, Lakeland Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Lakeland Industries Stock Up 0.6%

Shares of Lakeland Industries stock opened at $17.06 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.77 and a current ratio of 4.23. Lakeland Industries, Inc. has a 52-week low of $14.58 and a 52-week high of $27.28. The company’s 50 day moving average price is $18.07 and its 200-day moving average price is $21.33. The stock has a market capitalization of $162.26 million, a price-to-earnings ratio of -189.56 and a beta of 1.10.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Wednesday, April 9th. The medical instruments supplier reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.97). The firm had revenue of $46.60 million during the quarter, compared to the consensus estimate of $47.10 million. Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. During the same period last year, the business earned $0.72 EPS. Equities research analysts forecast that Lakeland Industries, Inc. will post 0.48 EPS for the current year.

Lakeland Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 15th. Lakeland Industries’s payout ratio is -5.04%.

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.