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

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

Lakeland Industries Price Performance

Shares of NASDAQ LAKE traded down $0.17 during midday 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 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 has a twelve month low of $15.10 and a twelve month high of $27.28. The business has a 50-day simple moving average of $23.57 and a two-hundred day simple moving average of $22.20. The firm has a market capitalization of $189.32 million, a price-to-earnings ratio of -221.44 and a beta of 0.96.

Lakeland Industries Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Nikki Hamblin purchased 2,220 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $23.08 per share, for a total transaction of $51,237.60. Following the acquisition, the director now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laurel A. Yartz purchased 2,272 shares of the stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average price of $22.00 per share, with a total value of $49,984.00. Following the acquisition, the insider now directly owns 9,772 shares in the company, valued at $214,984. This represents a 30.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 11,208 shares of company stock valued at $253,520. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Capital Management LLC raised its position in Lakeland Industries by 0.4% during the fourth quarter. Private Capital Management LLC now owns 1,007,391 shares of the medical instruments supplier’s stock worth $25,739,000 after acquiring an additional 4,092 shares during the last quarter. Royce & Associates LP grew its holdings in Lakeland Industries by 16.7% in the fourth quarter. Royce & Associates LP now owns 851,980 shares of the medical instruments supplier’s stock valued at $21,768,000 after purchasing an additional 121,760 shares during the period. Ancora Advisors LLC grew its holdings in Lakeland Industries by 112.5% in the fourth quarter. Ancora Advisors LLC now owns 149,493 shares of the medical instruments supplier’s stock valued at $3,820,000 after purchasing an additional 79,148 shares during the period. Susquehanna International Group LLP grew its stake in Lakeland Industries by 261.9% during the fourth quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier’s stock worth $2,515,000 after buying an additional 71,224 shares during the period. Finally, Peapod Lane Capital LLC purchased a new stake in Lakeland Industries during the fourth quarter worth approximately $2,018,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.