First Eagle Investment Management LLC Acquires 59,803 Shares of Lakeland Industries, Inc. $LAKE

First Eagle Investment Management LLC increased its holdings in Lakeland Industries, Inc. (NASDAQ:LAKE) by 27.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 278,756 shares of the medical instruments supplier’s stock after purchasing an additional 59,803 shares during the period. First Eagle Investment Management LLC’s holdings in Lakeland Industries were worth $3,794,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. purchased a new stake in Lakeland Industries during the second quarter valued at about $28,000. Cubist Systematic Strategies LLC purchased a new position in shares of Lakeland Industries in the first quarter worth about $164,000. HighTower Advisors LLC bought a new stake in shares of Lakeland Industries in the 1st quarter valued at about $254,000. Dynamic Technology Lab Private Ltd bought a new position in Lakeland Industries during the 1st quarter worth approximately $332,000. Finally, Equitable Trust Co. increased its stake in Lakeland Industries by 32.0% in the 2nd quarter. Equitable Trust Co. now owns 28,615 shares of the medical instruments supplier’s stock worth $389,000 after purchasing an additional 6,945 shares during the period. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analyst Upgrades and Downgrades

LAKE has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Lakeland Industries in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Lakeland Industries from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Zacks Research upgraded shares of Lakeland Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, DA Davidson lowered their price objective on shares of Lakeland Industries from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Lakeland Industries Stock Performance

NASDAQ:LAKE opened at $15.94 on Friday. The company has a quick ratio of 1.41, a current ratio of 3.66 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $15.55 and its 200 day simple moving average is $15.58. The stock has a market cap of $152.56 million, a P/E ratio of -5.82 and a beta of 1.16. Lakeland Industries, Inc. has a twelve month low of $12.76 and a twelve month high of $27.28.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Wednesday, September 21st. The medical instruments supplier reported $0.36 EPS for the quarter. The firm had revenue of $27.47 million during the quarter. Lakeland Industries had a negative net margin of 11.22% and a negative return on equity of 3.07%. As a group, research analysts predict that Lakeland Industries, Inc. will post 0.48 EPS for the current year.

Lakeland Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 17th. Lakeland Industries’s payout ratio is presently -4.38%.

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.