State Street Corp cut its position in Lydall, Inc. (NYSE:LDL) by 2.3% during the first quarter, Holdings Channel reports. The fund owned 416,210 shares of the auto parts company’s stock after selling 9,634 shares during the period. State Street Corp’s holdings in Lydall were worth $22,307,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Lydall by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,044 shares of the auto parts company’s stock worth $110,000 after buying an additional 16 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Lydall by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 1,900 shares of the auto parts company’s stock worth $101,000 after buying an additional 40 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Lydall by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the auto parts company’s stock worth $375,000 after buying an additional 100 shares during the last quarter. Creative Planning raised its position in shares of Lydall by 6.9% in the first quarter. Creative Planning now owns 2,335 shares of the auto parts company’s stock worth $125,000 after buying an additional 150 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Lydall by 3.2% in the first quarter. Envestnet Asset Management Inc. now owns 4,801 shares of the auto parts company’s stock worth $257,000 after buying an additional 150 shares during the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Lydall, Inc. (NYSE:LDL) traded down 0.21% during trading on Thursday, hitting $47.55. 18,100 shares of the company traded hands. The stock has a market capitalization of $819.43 million, a PE ratio of 19.57 and a beta of 1.68. The company’s 50 day moving average is $50.11 and its 200-day moving average is $52.68. Lydall, Inc. has a 52 week low of $44.14 and a 52 week high of $64.85.

Lydall (NYSE:LDL) last announced its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.10. Lydall had a net margin of 6.56% and a return on equity of 17.43%. The company had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $174.98 million. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. Analysts predict that Lydall, Inc. will post $2.91 earnings per share for the current year.

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A number of brokerages have recently commented on LDL. BidaskClub lowered shares of Lydall from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Roth Capital set a $63.00 price target on shares of Lydall and gave the stock a “buy” rating in a report on Saturday, May 20th. Zacks Investment Research lowered shares of Lydall from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, ValuEngine raised shares of Lydall from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $60.50.

In related news, CAO James V. Laughlan sold 4,700 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $52.69, for a total value of $247,643.00. Following the sale, the chief accounting officer now owns 19,743 shares in the company, valued at $1,040,258.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Chad A. Mcdaniel sold 3,500 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $54.06, for a total transaction of $189,210.00. Following the completion of the sale, the senior vice president now owns 36,236 shares in the company, valued at approximately $1,958,918.16. The disclosure for this sale can be found here. Insiders own 5.02% of the company’s stock.

Lydall Company Profile

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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Institutional Ownership by Quarter for Lydall (NYSE:LDL)

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