Zacks Investment Research Lowers Lydall, Inc. (NYSE:LDL) to Strong Sell

Lydall, Inc. (NYSE:LDL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, November 7th.

According to Zacks, “Lydall, Inc. is a New York Stock Exchange listed company, headquartered in Manchester, Connecticut with global manufacturing operations producing specialty engineered products for the thermal/acoustical and filtration/separation markets. The company develops and manufactures engineered materials for a variety of applications. Lydall Inc., operates through the following business segments: Performance Materials segment, Technical Nonwovens segment, Thermal and Acoustical Metals segment and Thermal and Acoustical Fibers segment. With operations in Europe, North America, and Asia Lydall, Inc., provides a wide range of engineered products designed and manufactured for industrial applications. Lydall’s products are found primarily in underbody and under hood applications within vehicles. Lydall, Inc. is headquartered in Manchester, CT. “

Several other brokerages have also commented on LDL. ValuEngine lowered Lydall from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Roth Capital set a $63.00 target price on Lydall and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub lowered Lydall from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Finally, Sidoti upgraded Lydall from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $62.50.

Shares of Lydall (NYSE LDL) opened at $53.95 on Tuesday. Lydall has a 12-month low of $45.45 and a 12-month high of $64.85. The stock has a market capitalization of $930.20, a price-to-earnings ratio of 20.21 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 1.91.

Lydall (NYSE:LDL) last released its earnings results on Tuesday, October 31st. The auto parts company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.08). The business 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 company’s revenue was up 15.6% compared to the same quarter last year. sell-side analysts anticipate that Lydall will post 2.76 EPS for the current fiscal year.

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In other Lydall news, insider Joseph A. Abbruzzi sold 2,795 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $52.72, for a total transaction of $147,352.40. Following the transaction, the insider now owns 39,685 shares of the company’s stock, valued at approximately $2,092,193.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director S Carl Soderstrom, Jr. sold 1,588 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $55.00, for a total value of $87,340.00. Following the completion of the sale, the director now directly owns 20,121 shares in the company, valued at approximately $1,106,655. The disclosure for this sale can be found here. Corporate insiders own 5.02% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in LDL. BlackRock Inc. increased its position in Lydall by 168,285.2% in the 1st quarter. BlackRock Inc. now owns 2,079,557 shares of the auto parts company’s stock valued at $111,465,000 after acquiring an additional 2,078,322 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Lydall in the 2nd quarter valued at approximately $9,303,000. Chartwell Investment Partners LLC acquired a new stake in Lydall in the 2nd quarter valued at approximately $5,428,000. Kennedy Capital Management Inc. acquired a new stake in Lydall in the 2nd quarter valued at approximately $5,156,000. Finally, Royal Bank of Canada increased its position in Lydall by 6.7% in the 2nd quarter. Royal Bank of Canada now owns 989,335 shares of the auto parts company’s stock valued at $51,149,000 after acquiring an additional 61,944 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Lydall Company Profile

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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