Roger Shannon Sells 8,869 Shares of Lakeland Industries (NASDAQ:LAKE) Stock

Lakeland Industries, Inc. (NASDAQ:LAKE) CFO Roger Shannon sold 8,869 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $8.06, for a total value of $71,484.14. Following the completion of the transaction, the chief financial officer directly owned 36,026 shares in the company, valued at $290,369.56. This trade represents a 19.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lakeland Industries Trading Down 3.9%

Shares of NASDAQ:LAKE opened at $7.94 on Friday. The stock has a 50 day moving average of $14.55 and a 200 day moving average of $14.67. The company has a market cap of $77.89 million, a PE ratio of -1.81 and a beta of 1.33. Lakeland Industries, Inc. has a 12-month low of $7.77 and a 12-month high of $27.28. The company has a current ratio of 3.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28.

Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Wednesday, September 21st. The medical instruments supplier reported $0.36 EPS for the quarter. The company had revenue of $27.47 million for the quarter. Lakeland Industries had a negative net margin of 19.41% and a negative return on equity of 7.80%. As a group, equities research analysts expect that Lakeland Industries, Inc. will post 0.48 EPS for the current year.

Lakeland Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, November 17th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.5%. Lakeland Industries’s payout ratio is -2.73%.

Institutional Investors Weigh In On Lakeland Industries

Several large investors have recently made changes to their positions in LAKE. Royce & Associates LP boosted its stake in Lakeland Industries by 10.0% during the third quarter. Royce & Associates LP now owns 1,178,670 shares of the medical instruments supplier’s stock valued at $17,444,000 after buying an additional 107,100 shares during the last quarter. Private Capital Management LLC increased its stake in Lakeland Industries by 1.2% in the 3rd quarter. Private Capital Management LLC now owns 1,169,488 shares of the medical instruments supplier’s stock worth $17,308,000 after acquiring an additional 14,415 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Lakeland Industries by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 486,524 shares of the medical instruments supplier’s stock worth $7,201,000 after acquiring an additional 10,764 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Lakeland Industries by 27.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 278,756 shares of the medical instruments supplier’s stock valued at $3,794,000 after acquiring an additional 59,803 shares during the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of Lakeland Industries by 85.1% in the first quarter. Ancora Advisors LLC now owns 276,688 shares of the medical instruments supplier’s stock valued at $5,620,000 after purchasing an additional 127,195 shares in the last quarter. 71.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LAKE has been the topic of a number of recent analyst reports. DA Davidson reissued a “neutral” rating and set a $14.00 price target (down from $20.00) on shares of Lakeland Industries in a report on Wednesday, December 10th. UBS Group set a $14.00 price objective on Lakeland Industries in a research note on Wednesday, December 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Lakeland Industries in a research note on Wednesday, October 8th. Lake Street Capital lowered their price target on Lakeland Industries from $26.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, Wall Street Zen downgraded Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Lakeland Industries Company Profile

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.