Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

Lakeland Industries, Inc. (NASDAQ:LAKE) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 36,600 shares, a drop of 8.7% from the March 15th total of 40,100 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 19,900 shares, the days-to-cover ratio is presently 1.8 days.

Lakeland Industries Stock Performance

NASDAQ LAKE opened at $15.89 on Wednesday. Lakeland Industries has a 1-year low of $10.60 and a 1-year high of $19.66. The company has a market capitalization of $117.11 million, a P/E ratio of 22.38 and a beta of 0.47. The business has a 50 day moving average price of $16.98 and a 200 day moving average price of $16.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.53 and a quick ratio of 2.74.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Wednesday, April 10th. The medical instruments supplier reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.08). Lakeland Industries had a net margin of 4.33% and a return on equity of 6.63%. The firm had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $32.50 million. Sell-side analysts expect that Lakeland Industries will post 1.26 EPS for the current fiscal year.

Lakeland Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Wednesday, February 14th. Lakeland Industries’s payout ratio is 16.90%.

Hedge Funds Weigh In On Lakeland Industries

Hedge funds have recently bought and sold shares of the stock. Qube Research & Technologies Ltd purchased a new position in Lakeland Industries during the third quarter worth $26,000. UBS Group AG increased its position in Lakeland Industries by 64.2% during the first quarter. UBS Group AG now owns 2,347 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 918 shares in the last quarter. Barclays PLC purchased a new position in Lakeland Industries during the third quarter worth $53,000. Tower Research Capital LLC TRC increased its position in Lakeland Industries by 511.9% during the third quarter. Tower Research Capital LLC TRC now owns 4,620 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 3,865 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Lakeland Industries by 28.8% during the second quarter. BNP Paribas Arbitrage SA now owns 9,729 shares of the medical instruments supplier’s stock worth $149,000 after buying an additional 2,178 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on LAKE shares. StockNews.com cut Lakeland Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. TheStreet raised Lakeland Industries from a “c+” rating to a “b-” rating in a report 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.