Renaissance Technologies LLC Sells 61,200 Shares of Lakeland Industries, Inc. (NASDAQ:LAKE)

Renaissance Technologies LLC cut its position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 434,002 shares of the medical instruments supplier's stock after selling 61,200 shares during the quarter. Renaissance Technologies LLC owned about 4.57% of Lakeland Industries worth $11,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAKE. Barclays PLC bought a new stake in shares of Lakeland Industries during the 3rd quarter valued at $306,000. First Eagle Investment Management LLC purchased a new position in Lakeland Industries during the 4th quarter valued at about $571,000. IFP Advisors Inc bought a new stake in Lakeland Industries during the fourth quarter worth about $36,000. Geode Capital Management LLC grew its holdings in Lakeland Industries by 1.6% in the third quarter. Geode Capital Management LLC now owns 74,273 shares of the medical instruments supplier's stock worth $1,493,000 after purchasing an additional 1,177 shares during the period. Finally, Peapod Lane Capital LLC bought a new position in shares of Lakeland Industries during the fourth quarter valued at approximately $2,018,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO An Hui purchased 2,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were purchased at an average cost of $22.00 per share, with a total value of $44,000.00. Following the acquisition, the chief operating officer now directly owns 53,912 shares of the company's stock, valued at $1,186,064. This represents a 3.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nikki Hamblin purchased 1,590 shares of the company's stock in a transaction dated Wednesday, January 22nd. The stock was purchased at an average price of $22.00 per share, for a total transaction of $34,980.00. Following the completion of the purchase, the director now owns 17,452 shares in the company, valued at approximately $383,944. The trade was a 10.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,998 shares of company stock valued at $177,186 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LAKE shares. Lake Street Capital started coverage on Lakeland Industries in a research note on Tuesday, March 11th. They issued a "buy" rating and a $30.00 price target on the stock. DA Davidson reduced their price target on Lakeland Industries from $28.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.00.

Lakeland Industries Stock Up 2.1 %

NASDAQ LAKE traded up $0.32 during mid-day trading on Tuesday, reaching $15.80. The stock had a trading volume of 99,931 shares, compared to its average volume of 61,744. The stock has a market cap of $150.08 million, a PE ratio of -175.56 and a beta of 0.86. Lakeland Industries, Inc. has a 1 year low of $14.58 and a 1 year high of $27.28. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.23 and a quick ratio of 1.77. The company has a fifty day moving average price of $19.92 and a 200 day moving average price of $21.65.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The medical instruments supplier reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.97). Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. The business had revenue of $46.60 million during the quarter, compared to analysts' expectations of $47.10 million. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, research analysts expect that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 17th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Lakeland Industries's dividend payout ratio is currently -5.04%.

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.