Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 80,900 shares, a drop of 16.3% from the September 15th total of 96,700 shares. Approximately 1.2% of the company's shares are sold short. Based on an average trading volume of 42,100 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Investors Weigh In On Lakeland Industries

Several hedge funds have recently made changes to their positions in the company. Total Clarity Wealth Management Inc. bought a new stake in shares of Lakeland Industries in the second quarter valued at about $597,000. Renaissance Technologies LLC raised its holdings in shares of Lakeland Industries by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier's stock valued at $11,452,000 after purchasing an additional 13,200 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Lakeland Industries in the 4th quarter worth approximately $236,000. Inspire Advisors LLC bought a new position in shares of Lakeland Industries during the second quarter valued at approximately $222,000. Finally, High Falls Advisors Inc boosted its position in Lakeland Industries by 35.8% during the 2nd quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier's stock valued at $447,000 after acquiring an additional 5,137 shares in the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Industries Trading Up 1.8 %

Shares of NASDAQ:LAKE traded up $0.35 on Monday, hitting $20.00. 34,224 shares of the company's stock were exchanged, compared to its average volume of 37,444. The stock has a market capitalization of $147.56 million, a price-to-earnings ratio of 26.67 and a beta of 0.55. Lakeland Industries has a 12 month low of $13.86 and a 12 month high of $26.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.24 and a quick ratio of 2.00. The business's 50 day simple moving average is $21.61 and its two-hundred day simple moving average is $20.57.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.61). The company had revenue of $38.51 million for the quarter, compared to the consensus estimate of $41.10 million. Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. During the same quarter in the previous year, the business earned $0.32 EPS. Analysts anticipate that Lakeland Industries will post 0.96 EPS for the current fiscal year.

Lakeland Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Thursday, August 15th. Lakeland Industries's dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LAKE. StockNews.com upgraded shares of Lakeland Industries from a "sell" rating to a "hold" rating in a report on Thursday. Roth Mkm upped their target price on Lakeland Industries from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, July 3rd.

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.