Schonfeld Strategic Advisors LLC Invests $362,000 in Lakeland Industries, Inc. (NASDAQ:LAKE)

Schonfeld Strategic Advisors LLC purchased a new position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 14,165 shares of the medical instruments supplier’s stock, valued at approximately $362,000.

Several other hedge funds have also made changes to their positions in the business. Royce & Associates LP lifted its position in shares of Lakeland Industries by 16.7% during the fourth quarter. Royce & Associates LP now owns 851,980 shares of the medical instruments supplier’s stock worth $21,768,000 after purchasing an additional 121,760 shares in the last quarter. Susquehanna International Group LLP raised its holdings in Lakeland Industries by 261.9% in the fourth quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier’s stock valued at $2,515,000 after acquiring an additional 71,224 shares in the last quarter. Peapod Lane Capital LLC acquired a new stake in Lakeland Industries in the fourth quarter valued at approximately $2,018,000. Bank of New York Mellon Corp raised its holdings in Lakeland Industries by 6.8% in 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 in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in Lakeland Industries by 1.6% in 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 in the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Lakeland Industries Stock Up 0.6%

LAKE stock opened at $17.06 on Monday. 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 twelve month low of $14.58 and a twelve month high of $27.28. The company’s 50 day moving average is $18.07 and its two-hundred day moving average is $21.33. The stock has a market cap of $162.26 million, a P/E ratio of -189.56 and a beta of 1.10.

Lakeland Industries (NASDAQ:LAKE) last announced its 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 business had revenue of $46.60 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.72 earnings per share. Research analysts expect that Lakeland Industries, Inc. will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be given a $0.03 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.70%. Lakeland Industries’s dividend payout ratio (DPR) is -5.04%.

Analysts Set New Price Targets

Several brokerages recently weighed in on LAKE. StockNews.com raised shares of Lakeland Industries to a “sell” rating in a report on Wednesday, May 7th. DA Davidson reduced their target price on shares of Lakeland Industries from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Lake Street Capital initiated coverage on shares of Lakeland Industries in a report on Tuesday, March 11th. They issued a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Lakeland Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

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.