Macquarie Group Ltd. Acquires New Holdings in Lakeland Industries, Inc. (LAKE)
Macquarie Group Ltd. acquired a new position in Lakeland Industries, Inc. (NASDAQ:LAKE) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,311 shares of the medical instruments supplier’s stock, valued at approximately $343,000. Macquarie Group Ltd. owned approximately 0.30% of Lakeland Industries at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Lakeland Industries by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 425,343 shares of the medical instruments supplier’s stock worth $4,572,000 after buying an additional 11,716 shares in the last quarter. Royal Bank of Canada grew its holdings in Lakeland Industries by 132.6% in the 2nd quarter. Royal Bank of Canada now owns 155,970 shares of the medical instruments supplier’s stock worth $2,262,000 after buying an additional 88,910 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Lakeland Industries by 54.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 19,556 shares of the medical instruments supplier’s stock worth $210,000 after buying an additional 6,924 shares in the last quarter. Vanguard Group Inc. grew its holdings in Lakeland Industries by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 302,567 shares of the medical instruments supplier’s stock worth $4,387,000 after buying an additional 2,290 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Lakeland Industries in the 2nd quarter worth approximately $530,000. 55.35% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on LAKE. Zacks Investment Research lowered Lakeland Industries from a “buy” rating to a “hold” rating in a report on Saturday, November 18th. ValuEngine raised Lakeland Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Roth Capital started coverage on Lakeland Industries in a research note on Wednesday, August 23rd. They set a “buy” rating and a $18.00 price target for the company.
Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Wednesday, September 13th. The medical instruments supplier reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Lakeland Industries had a return on equity of 8.27% and a net margin of 6.65%. The firm had revenue of $23.90 million during the quarter, compared to analyst estimates of $23.91 million. During the same period last year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. equities research analysts predict that Lakeland Industries, Inc. will post 0.84 earnings per share for the current year.
Lakeland Industries Profile
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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