Lakeland Industries (NASDAQ:LAKE) Announces Quarterly Earnings Results

Lakeland Industries (NASDAQ:LAKE) announced its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.08), reports. The firm had revenue of $31.20 million during the quarter, compared to analyst estimates of $32.50 million. Lakeland Industries had a net margin of 5.38% and a return on equity of 5.43%.

Lakeland Industries Trading Down 4.9 %

Shares of NASDAQ LAKE opened at $16.80 on Friday. The stock has a market cap of $123.65 million, a price-to-earnings ratio of 19.54 and a beta of 0.47. Lakeland Industries has a 52 week low of $10.60 and a 52 week high of $19.66. The company’s 50-day moving average price is $17.10 and its 200 day moving average price is $16.38.

Lakeland Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were paid a $0.03 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.71%. Lakeland Industries’s payout ratio is 13.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC lifted its holdings in Lakeland Industries by 1.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 43,530 shares of the medical instruments supplier’s stock valued at $807,000 after purchasing an additional 768 shares in the last quarter. Royal Bank of Canada lifted its holdings in Lakeland Industries by 1.2% in the 1st quarter. Royal Bank of Canada now owns 68,473 shares of the medical instruments supplier’s stock valued at $1,314,000 after purchasing an additional 799 shares in the last quarter. UBS Group AG lifted its holdings in Lakeland Industries by 64.2% in the 1st quarter. UBS Group AG now owns 2,347 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 918 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Lakeland Industries by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 38,910 shares of the medical instruments supplier’s stock valued at $747,000 after purchasing an additional 969 shares in the last quarter. Finally, State Street Corp lifted its holdings in Lakeland Industries by 4.4% in the 1st quarter. State Street Corp now owns 29,161 shares of the medical instruments supplier’s stock valued at $560,000 after purchasing an additional 1,220 shares in the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LAKE. StockNews.com cut shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. TheStreet raised shares of Lakeland Industries from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st.

Lakeland Industries Company Profile

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.