Equitable Trust Co. Sells 2,835 Shares of Lakeland Industries, Inc. (NASDAQ:LAKE)

Equitable Trust Co. lessened its position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) by 10.2% in the fourth quarter, HoldingsChannel reports. The fund owned 24,830 shares of the medical instruments supplier’s stock after selling 2,835 shares during the period. Equitable Trust Co.’s holdings in Lakeland Industries were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Diversified Investment Strategies LLC boosted its holdings in shares of Lakeland Industries by 30.0% during the fourth quarter. Diversified Investment Strategies LLC now owns 32,500 shares of the medical instruments supplier’s stock worth $830,000 after acquiring an additional 7,500 shares during the period. Barclays PLC bought a new stake in shares of Lakeland Industries during the third quarter worth approximately $306,000. Geode Capital Management LLC boosted its holdings in shares of Lakeland Industries by 1.6% during the third quarter. Geode Capital Management LLC now owns 74,273 shares of the medical instruments supplier’s stock worth $1,493,000 after acquiring an additional 1,177 shares during the period. High Falls Advisors Inc boosted its holdings in shares of Lakeland Industries by 46.2% during the third quarter. High Falls Advisors Inc now owns 28,472 shares of the medical instruments supplier’s stock worth $572,000 after acquiring an additional 9,000 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Lakeland Industries by 4.6% in the third quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock valued at $244,000 after buying an additional 536 shares in the last quarter. Institutional investors own 71.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LAKE shares. StockNews.com downgraded shares of Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Roth Mkm lifted their price target on shares of Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th.

Lakeland Industries Stock Up 1.0 %

NASDAQ LAKE opened at $23.29 on Tuesday. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. Lakeland Industries, Inc. has a 1-year low of $15.10 and a 1-year high of $27.28. The company has a 50 day moving average of $24.11 and a 200-day moving average of $22.36. The company has a market cap of $221.26 million, a price-to-earnings ratio of -258.78 and a beta of 0.62.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Thursday, December 5th. The medical instruments supplier reported $0.01 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.39). Lakeland Industries had a negative net margin of 0.42% and a positive return on equity of 1.66%. On average, equities research analysts expect that Lakeland Industries, Inc. will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 17th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.12 annualized dividend and a yield of 0.52%. Lakeland Industries’s dividend payout ratio is currently -133.33%.

Insider Buying and Selling at Lakeland Industries

In other news, Director Nikki Hamblin acquired 1,590 shares of the stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $34,980.00. Following the completion of the transaction, the director now directly owns 17,452 shares in the company, valued at approximately $383,944. This trade represents a 10.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James M. Jenkins acquired 990 shares of the stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $25.35 per share, with a total value of $25,096.50. Following the completion of the transaction, the chief executive officer now owns 990 shares of the company’s stock, valued at approximately $25,096.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 11,208 shares of company stock worth $253,520 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Lakeland Industries 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.