Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Up 81.2% in February

Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 212,400 shares, an increase of 81.2% from the January 31st total of 117,200 shares. Based on an average daily volume of 74,100 shares, the short-interest ratio is presently 2.9 days.

Lakeland Industries Price Performance

NASDAQ:LAKE traded up $0.11 on Friday, reaching $23.60. 34,948 shares of the company’s stock traded hands, compared to its average volume of 90,619. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $24.46 and a 200-day simple moving average of $22.47. The firm has a market cap of $224.18 million, a PE ratio of -262.22 and a beta of 0.62. Lakeland Industries has a 12 month low of $15.10 and a 12 month high of $27.28.

Lakeland Industries (NASDAQ:LAKE) last posted 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 negative net margin of 0.42% and a positive return on equity of 1.66%. Equities research analysts forecast that Lakeland Industries will post 0.48 earnings per share for the current year.

Lakeland Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 17th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.12 annualized dividend and a yield of 0.51%. Lakeland Industries’s payout ratio is currently -133.33%.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm raised their price target on Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th.

Insiders Place Their Bets

In related news, COO An Hui bought 2,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average price of $22.00 per share, with a total value of $44,000.00. Following the purchase, the chief operating officer now owns 53,912 shares in the company, valued at approximately $1,186,064. The trade was a 3.85 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nikki Hamblin purchased 2,220 shares of Lakeland Industries stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $23.08 per share, for a total transaction of $51,237.60. Following the acquisition, the director now owns 15,862 shares in the company, valued at $366,094.96. This trade represents a 16.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 11,208 shares of company stock valued at $253,520 over the last 90 days. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Empowered Funds LLC boosted its holdings in shares of Lakeland Industries by 4.6% in 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 period. Northern Trust Corp increased its position in shares of Lakeland Industries by 4.5% in the 4th quarter. Northern Trust Corp now owns 14,799 shares of the medical instruments supplier’s stock valued at $378,000 after acquiring an additional 635 shares during the period. D.A. Davidson & CO. boosted its holdings in Lakeland Industries by 1.6% in the fourth quarter. D.A. Davidson & CO. now owns 43,892 shares of the medical instruments supplier’s stock valued at $1,121,000 after purchasing an additional 698 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lakeland Industries by 1.6% in 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. Finally, IFP Advisors Inc purchased a new stake in shares of Lakeland Industries during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

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.