Lydall, Inc. (LDL) Shares Sold by Wells Fargo & Company MN
Wells Fargo & Company MN lessened its holdings in Lydall, Inc. (NYSE:LDL) by 62.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,485 shares of the auto parts company’s stock after selling 25,649 shares during the quarter. Wells Fargo & Company MN owned 0.09% of Lydall worth $800,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Lydall by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,044 shares of the auto parts company’s stock valued at $110,000 after purchasing an additional 16 shares in the last quarter. Creative Planning boosted its holdings in shares of Lydall by 42.8% in the 2nd quarter. Creative Planning now owns 3,335 shares of the auto parts company’s stock valued at $172,000 after purchasing an additional 1,000 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Lydall by 77.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,381 shares of the auto parts company’s stock valued at $174,000 after purchasing an additional 1,481 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Lydall by 13.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,559 shares of the auto parts company’s stock valued at $184,000 after purchasing an additional 421 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Lydall in the 1st quarter valued at $204,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Joseph A. Abbruzzi sold 2,795 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $52.72, for a total transaction of $147,352.40. Following the transaction, the insider now directly owns 39,685 shares in the company, valued at $2,092,193.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.02% of the stock is currently owned by company insiders.
Shares of Lydall, Inc. (LDL) opened at $54.70 on Tuesday. The firm has a market capitalization of $943.13, a price-to-earnings ratio of 20.71 and a beta of 1.67. Lydall, Inc. has a twelve month low of $45.45 and a twelve month high of $64.85. The company has a current ratio of 2.67, a quick ratio of 1.91 and a debt-to-equity ratio of 0.28.
Lydall (NYSE:LDL) last issued its earnings results on Tuesday, October 31st. The auto parts company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.08). The company had revenue of $180.00 million for the quarter, compared to analysts’ expectations of $172.21 million. Lydall had a return on equity of 15.22% and a net margin of 6.00%. The firm’s revenue was up 15.6% compared to the same quarter last year. research analysts forecast that Lydall, Inc. will post 2.76 earnings per share for the current year.
A number of equities research analysts have weighed in on the company. BidaskClub downgraded Lydall from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. ValuEngine downgraded Lydall from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research downgraded Lydall from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Sidoti raised Lydall from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Wednesday, September 13th. Finally, Roth Capital set a $63.00 target price on Lydall and gave the company a “buy” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $62.50.
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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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