Short Interest in Lakeland Industries, Inc. (NASDAQ:LAKE) Declines By 22.9%

Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 117,200 shares, a decline of 22.9% from the January 15th total of 152,100 shares. Based on an average daily trading volume, of 70,900 shares, the short-interest ratio is currently 1.7 days.

Lakeland Industries Price Performance

Shares of NASDAQ LAKE opened at $24.49 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.23 and a quick ratio of 1.77. Lakeland Industries has a 1 year low of $15.10 and a 1 year high of $27.28. The firm has a 50-day moving average of $24.21 and a 200 day moving average of $22.39.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Thursday, December 5th. The medical instruments supplier reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.39). Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. Research analysts anticipate that Lakeland Industries will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 17th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, February 14th. Lakeland Industries’s dividend payout ratio is presently -133.33%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LAKE. Roth Mkm lifted their price objective on Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. StockNews.com lowered Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

Insider Transactions at Lakeland Industries

In related news, Director Nikki Hamblin acquired 2,220 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $23.08 per share, for a total transaction of $51,237.60. Following the acquisition, the director now owns 15,862 shares of the company’s stock, valued at $366,094.96. This trade represents a 16.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Laurel A. Yartz bought 2,272 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $22.00 per share, with a total value of $49,984.00. Following the completion of the transaction, the insider now owns 9,772 shares in the company, valued at approximately $214,984. This trade represents a 30.29 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,208 shares of company stock worth $253,520. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Lakeland Industries

Several institutional investors have recently bought and sold shares of LAKE. Barclays PLC purchased a new position in Lakeland Industries in the 3rd quarter worth about $306,000. Geode Capital Management LLC raised its holdings in shares of Lakeland Industries by 1.6% during the third quarter. Geode Capital Management LLC now owns 74,273 shares of the medical instruments supplier’s stock valued at $1,493,000 after purchasing an additional 1,177 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Lakeland Industries by 4.6% during the third quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock valued at $244,000 after purchasing an additional 536 shares during the last quarter. Diversified Investment Strategies LLC lifted its position in Lakeland Industries by 30.0% during the fourth quarter. Diversified Investment Strategies LLC now owns 32,500 shares of the medical instruments supplier’s stock valued at $830,000 after purchasing an additional 7,500 shares during the period. Finally, Huntington National Bank purchased a new stake in Lakeland Industries in the third quarter worth approximately $41,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

About Lakeland Industries

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.