Lakeland Industries, Inc. (NASDAQ:LAKE) Sees Significant Drop in Short Interest

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 117,200 shares, a drop of 22.9% from the January 15th total of 152,100 shares. Based on an average trading volume of 70,900 shares, the days-to-cover ratio is presently 1.7 days.

Insider Transactions at Lakeland Industries

In other Lakeland Industries news, Director Nikki Hamblin bought 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 acquisition, the director now owns 17,452 shares in the company, valued at $383,944. This trade represents a 10.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James M. Jenkins bought 990 shares of the stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $25.35 per share, with a total value of $25,096.50. Following the completion of the acquisition, the chief executive officer now owns 990 shares of the company's stock, valued at $25,096.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 11,208 shares of company stock worth $253,520 over the last ninety days. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Lakeland Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc purchased a new position in shares of Lakeland Industries during the fourth quarter valued at approximately $36,000. Huntington National Bank purchased a new position in shares of Lakeland Industries during the third quarter valued at approximately $41,000. Russell Investments Group Ltd. purchased a new position in shares of Lakeland Industries during the fourth quarter valued at approximately $160,000. Bank of America Corp DE boosted its position in shares of 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 valued at $196,000 after buying an additional 4,081 shares during the last quarter. Finally, Metis Global Partners LLC purchased a new position in shares of Lakeland Industries during the fourth quarter valued at approximately $207,000. Institutional investors own 71.69% of the company's stock.

Lakeland Industries Stock Up 1.6 %

Shares of NASDAQ LAKE traded up $0.38 during midday trading on Tuesday, hitting $24.41. 42,972 shares of the stock traded hands, compared to its average volume of 98,364. The company has a market cap of $231.89 million, a PE ratio of -271.24 and a beta of 0.62. Lakeland Industries has a one year low of $15.10 and a one year high of $27.28. The business has a 50 day moving average price of $24.32 and a two-hundred day moving average price of $22.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.77 and a current ratio of 4.23.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last released 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 analysts predict that Lakeland Industries will post 0.48 EPS for the current year.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 17th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, February 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. Lakeland Industries's dividend payout ratio is -133.33%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LAKE. Roth Mkm lifted their target price on Lakeland Industries from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. StockNews.com downgraded Lakeland Industries from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th.

About Lakeland Industries

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.