Bank of New York Mellon Corp Has $979,000 Holdings in Lakeland Industries, Inc. (NASDAQ:LAKE)

Bank of New York Mellon Corp trimmed its position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 42,697 shares of the medical instruments supplier’s stock after selling 882 shares during the quarter. Bank of New York Mellon Corp’s holdings in Lakeland Industries were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LAKE. Hillsdale Investment Management Inc. boosted its holdings in shares of Lakeland Industries by 37.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after acquiring an additional 2,900 shares in the last quarter. Empowered Funds LLC raised its position in Lakeland Industries by 6.9% in the 1st quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock valued at $199,000 after purchasing an additional 700 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Lakeland Industries in the fourth quarter worth $236,000. Finally, North Star Investment Management Corp. grew its holdings in shares of Lakeland Industries by 0.9% during the first quarter. North Star Investment Management Corp. now owns 168,573 shares of the medical instruments supplier’s stock worth $3,085,000 after purchasing an additional 1,503 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com cut Lakeland Industries from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Roth Mkm raised their price objective on shares of Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Maxim Group upped their target price on shares of Lakeland Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th.

Lakeland Industries Trading Up 1.1 %

Shares of LAKE opened at $20.23 on Friday. The stock’s fifty day simple moving average is $22.74 and its 200-day simple moving average is $20.11. The firm has a market capitalization of $149.26 million, a PE ratio of 26.97 and a beta of 0.57. Lakeland Industries, Inc. has a 12-month low of $13.86 and a 12-month high of $26.10. The company has a quick ratio of 2.74, a current ratio of 4.24 and a debt-to-equity ratio of 0.24.

Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.61). The business had revenue of $38.51 million for the quarter, compared to analyst estimates of $41.10 million. Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, research analysts predict that Lakeland Industries, Inc. will post 0.96 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.03 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.59%. Lakeland Industries’s payout ratio is presently 16.00%.

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.