Credit Suisse AG Acquires 9,945 Shares of Lydall, Inc. (NYSE:LDL)
Credit Suisse AG raised its stake in shares of Lydall, Inc. (NYSE:LDL) by 47.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,000 shares of the auto parts company’s stock after buying an additional 9,945 shares during the period. Credit Suisse AG’s holdings in Lydall were worth $1,662,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Ramsey Quantitative Systems acquired a new position in Lydall during the first quarter valued at approximately $463,000. Swiss National Bank raised its position in Lydall by 2.9% in the first quarter. Swiss National Bank now owns 28,400 shares of the auto parts company’s stock valued at $1,522,000 after buying an additional 800 shares in the last quarter. LS Investment Advisors LLC raised its position in Lydall by 216.6% in the first quarter. LS Investment Advisors LLC now owns 2,061 shares of the auto parts company’s stock valued at $110,000 after buying an additional 1,410 shares in the last quarter. Comerica Bank raised its position in Lydall by 15.0% in the first quarter. Comerica Bank now owns 133,445 shares of the auto parts company’s stock valued at $7,079,000 after buying an additional 17,437 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Lydall by 6.0% in the first quarter. Great West Life Assurance Co. Can now owns 24,049 shares of the auto parts company’s stock valued at $1,286,000 after buying an additional 1,362 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors.
Lydall, Inc. (LDL) traded down 0.85% during trading on Friday, hitting $46.60. 58,320 shares of the company traded hands. The stock has a market capitalization of $803.06 million, a PE ratio of 19.18 and a beta of 1.68. The company’s 50 day moving average is $49.90 and its 200-day moving average is $52.55. 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.
Several equities analysts recently commented on the stock. ValuEngine raised shares of Lydall from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Roth Capital set a $63.00 target price on shares of Lydall and gave the company a “buy” rating in a report on Monday, June 26th. BidaskClub lowered shares of Lydall from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Lydall from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Lydall has a consensus rating of “Hold” and an average price target of $60.50.
In other Lydall news, SVP Chad A. Mcdaniel sold 3,500 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $54.06, for a total transaction of $189,210.00. Following the transaction, the senior vice president now owns 36,236 shares in the company, valued at $1,958,918.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $247,643.00. Following the transaction, the chief accounting officer now owns 19,743 shares in the company, valued at approximately $1,040,258.67. The disclosure for this sale can be found here. 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.
Want to see what other hedge funds are holding LDL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lydall, Inc. (NYSE:LDL).
Receive News & Ratings for Lydall Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lydall Inc. and related companies with MarketBeat.com's FREE daily email newsletter.