Algert Global LLC Grows Stake in Lakeland Industries, Inc. (LAKE)
Algert Global LLC raised its holdings in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) by 776.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,733 shares of the medical instruments supplier’s stock after buying an additional 199,964 shares during the quarter. Lakeland Industries comprises about 0.7% of Algert Global LLC’s portfolio, making the stock its 18th biggest holding. Algert Global LLC owned approximately 2.81% of Lakeland Industries worth $3,183,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Lakeland Industries by 23.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 543,631 shares of the medical instruments supplier’s stock valued at $7,665,000 after acquiring an additional 103,694 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Lakeland Industries by 132.6% during the 2nd quarter. Royal Bank of Canada now owns 155,970 shares of the medical instruments supplier’s stock valued at $2,262,000 after acquiring an additional 88,910 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Lakeland Industries during the 3rd quarter valued at about $593,000. Russell Investments Group Ltd. acquired a new position in shares of Lakeland Industries during the 2nd quarter valued at about $530,000. Finally, Citadel Advisors LLC acquired a new position in shares of Lakeland Industries during the 3rd quarter valued at about $402,000. 55.35% of the stock is owned by institutional investors and hedge funds.
Lakeland Industries, Inc. (NASDAQ:LAKE) opened at $14.45 on Thursday. Lakeland Industries, Inc. has a 1 year low of $9.85 and a 1 year high of $17.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.75 and a quick ratio of 2.70. The company has a market cap of $115.67, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.72 and a beta of -0.11.
Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Wednesday, September 13th. The medical instruments supplier reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Lakeland Industries had a net margin of 6.65% and a return on equity of 8.27%. The company had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $23.91 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Lakeland Industries’s revenue for the quarter was up 7.2% compared to the same quarter last year. equities research analysts forecast that Lakeland Industries, Inc. will post 0.84 EPS for the current fiscal year.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research report on Saturday, November 18th. ValuEngine raised shares of Lakeland Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Roth Capital assumed coverage on shares of Lakeland Industries in a research report on Wednesday, August 23rd. They issued a “buy” rating and a $18.00 target price on the stock.
About Lakeland Industries
Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.
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