Insider Buying: Lakeland Industries, Inc. (NASDAQ:LAKE) CFO Buys 1,000 Shares of Stock

Lakeland Industries, Inc. (NASDAQ:LAKE) CFO Roger D. Shannon bought 1,000 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average price of $23.23 per share, with a total value of $23,230.00. Following the completion of the acquisition, the chief financial officer now directly owns 36,839 shares in the company, valued at $855,769.97. This trade represents a 2.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Lakeland Industries Stock Performance

Shares of Lakeland Industries stock traded down $0.07 on Friday, hitting $22.73. The stock had a trading volume of 197,838 shares, compared to its average volume of 109,616. The company’s 50 day moving average price is $23.67 and its 200 day moving average price is $22.33. The stock has a market cap of $168.43 million, a price-to-earnings ratio of -252.56 and a beta of 0.60. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. Lakeland Industries, Inc. has a 52-week low of $15.10 and a 52-week high of $27.28.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Thursday, December 5th. The medical instruments supplier reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts anticipate that Lakeland Industries, Inc. will post 0.48 EPS for the current year.

Lakeland Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 annualized dividend and a yield of 0.53%. Lakeland Industries’s dividend payout ratio is currently -133.33%.

Analysts Set New Price Targets

Several brokerages have commented on LAKE. Roth Mkm raised their price target 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. StockNews.com downgraded Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

Hedge Funds Weigh In On Lakeland Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC acquired a new stake in Lakeland Industries in the third quarter valued at $306,000. Geode Capital Management LLC grew its holdings in Lakeland Industries by 1.6% in 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 purchasing an additional 1,177 shares during the last quarter. Empowered Funds LLC increased its position in shares of Lakeland Industries by 4.6% in the third quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock valued at $244,000 after buying an additional 536 shares in the last quarter. High Falls Advisors Inc raised its stake in shares of Lakeland Industries by 35.8% during the 2nd quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock worth $447,000 after buying an additional 5,137 shares during the last quarter. Finally, Huntington National Bank purchased a new stake in shares of Lakeland Industries in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.