Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Down 29.7% in February

Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 149,300 shares, a drop of 29.7% from the February 13th total of 212,400 shares. Based on an average daily volume of 84,600 shares, the short-interest ratio is currently 1.8 days. Approximately 1.6% of the company’s stock are short sold.

Lakeland Industries Price Performance

Shares of NASDAQ LAKE traded down $0.17 during trading on Monday, hitting $19.93. The company had a trading volume of 78,223 shares, compared to its average volume of 53,971. The stock has a fifty day simple moving average of $23.57 and a two-hundred day simple moving average of $22.20. Lakeland Industries has a fifty-two week low of $15.10 and a fifty-two week high of $27.28. The firm has a market capitalization of $189.32 million, a price-to-earnings ratio of -221.44 and a beta of 0.96. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25.

Lakeland Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 17th were given a $0.03 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.60%. Lakeland Industries’s dividend payout ratio (DPR) is -133.33%.

Insider Activity

In related news, insider Laurel A. Yartz purchased 2,272 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average price of $22.00 per share, with a total value of $49,984.00. Following the completion of the acquisition, the insider now owns 9,772 shares in the company, valued at approximately $214,984. This represents a 30.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nikki Hamblin purchased 2,220 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $23.08 per share, with a total value of $51,237.60. Following the acquisition, the director now owns 15,862 shares of the company’s stock, valued at approximately $366,094.96. The trade was a 16.27 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,208 shares of company stock worth $253,520. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Lakeland Industries

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc acquired a new stake in shares of Lakeland Industries in the fourth quarter valued at about $36,000. Huntington National Bank acquired a new position in Lakeland Industries during the third quarter worth about $41,000. Russell Investments Group Ltd. acquired a new position in Lakeland Industries during the fourth quarter worth about $160,000. Bank of America Corp DE boosted its position in Lakeland Industries by 114.1% during the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock worth $196,000 after acquiring an additional 4,081 shares during the last quarter. Finally, Metis Global Partners LLC acquired a new position in Lakeland Industries in the 4th quarter valued at about $207,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on LAKE shares. Roth Mkm raised their target price on shares of Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Lake Street Capital began coverage on shares of Lakeland Industries in a report on Tuesday, March 11th. They issued a “buy” rating and a $30.00 price objective for the company.

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.