Parametric Portfolio Associates LLC Grows Position in Lydall, Inc. (LDL)
Parametric Portfolio Associates LLC lifted its holdings in Lydall, Inc. (NYSE:LDL) by 29.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,520 shares of the auto parts company’s stock after acquiring an additional 7,414 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.19% of Lydall worth $1,681,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Royce & Associates LP grew its stake in shares of Lydall by 14.4% in the second quarter. Royce & Associates LP now owns 417,210 shares of the auto parts company’s stock valued at $21,570,000 after acquiring an additional 52,484 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Lydall in the second quarter valued at about $596,000. BlackRock Inc. grew its stake in shares of Lydall by 168,285.2% in the first quarter. BlackRock Inc. now owns 2,079,557 shares of the auto parts company’s stock valued at $111,465,000 after acquiring an additional 2,078,322 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Lydall by 1.0% in the first quarter. Legal & General Group Plc now owns 28,316 shares of the auto parts company’s stock valued at $1,516,000 after acquiring an additional 277 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Lydall by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 92,398 shares of the auto parts company’s stock valued at $4,777,000 after acquiring an additional 2,977 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.
LDL has been the topic of several research reports. Zacks Investment Research downgraded shares of Lydall from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Roth Capital set a $63.00 price target on shares of Lydall and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Lydall from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Sidoti upgraded shares of Lydall from a “neutral” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Lydall has an average rating of “Hold” and an average target price of $62.50.
Shares of Lydall, Inc. (LDL) opened at $53.05 on Friday. Lydall, Inc. has a 52-week low of $45.45 and a 52-week high of $64.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.91 and a current ratio of 2.67. The firm has a market cap of $914.69, a PE ratio of 19.87 and a beta of 1.67.
Lydall (NYSE:LDL) last posted its quarterly earnings data on Tuesday, October 31st. The auto parts company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.08). Lydall had a return on equity of 15.22% and a net margin of 6.00%. The firm had revenue of $180.00 million for the quarter, compared to the consensus estimate of $172.21 million. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. analysts expect that Lydall, Inc. will post 2.76 EPS for the current fiscal year.
In related news, insider Joseph A. Abbruzzi sold 2,795 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $52.72, for a total transaction of $147,352.40. Following the completion of the sale, the insider now owns 39,685 shares of the company’s stock, valued at $2,092,193.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Carl Soderstrom, Jr. sold 1,588 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $55.00, for a total transaction of $87,340.00. Following the sale, the director now directly owns 20,121 shares of the company’s stock, valued at approximately $1,106,655. The disclosure for this sale can be found here. Corporate insiders own 5.02% of the company’s stock.
Lydall, Inc designs and manufactures specialty engineered filtration media, industrial thermal insulating solutions, automotive thermal and acoustical barriers for filtration/separation and thermal/acoustical applications. The Company’s segments are Performance Materials, Technical Nonwovens, Thermal/Acoustical Metals and Thermal/Acoustical Fibers.
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