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

Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 168,400 shares, an increase of 36.0% from the December 15th total of 123,800 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 46,400 shares, the days-to-cover ratio is presently 3.6 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com cut Lakeland Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Roth Mkm lifted their price target on shares of Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th.

Lakeland Industries Stock Up 0.6 %

Shares of Lakeland Industries stock opened at $26.03 on Friday. The business has a fifty day simple moving average of $23.28 and a 200 day simple moving average of $22.26. The stock has a market cap of $192.88 million, a PE ratio of -289.22 and a beta of 0.60. 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 12 month low of $15.10 and a 12 month high of $26.64.

Lakeland Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were given a dividend of $0.03 per share. The ex-dividend date was Friday, November 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.46%. Lakeland Industries’s payout ratio is currently -133.33%.

Insider Buying and Selling at Lakeland Industries

In related news, CEO James M. Jenkins bought 990 shares of Lakeland Industries stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $25.35 per share, for a total transaction of $25,096.50. Following the completion of the transaction, the chief executive officer now owns 990 shares of the company’s stock, valued at approximately $25,096.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nikki Hamblin purchased 2,220 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $23.08 per share, for a total transaction of $51,237.60. Following the completion of the purchase, the director now directly owns 15,862 shares of the company’s stock, valued at $366,094.96. The trade was a 16.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Lakeland Industries

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake 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 valued at $1,493,000 after purchasing an additional 1,177 shares in the last quarter. Barclays PLC acquired a new position in Lakeland Industries in the third quarter valued at about $306,000. Empowered Funds LLC increased its stake in Lakeland Industries by 4.6% during the 3rd quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock worth $244,000 after purchasing an additional 536 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Lakeland Industries by 2.7% in the second quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock valued at $11,452,000 after buying an additional 13,200 shares during the period. Finally, High Falls Advisors Inc boosted its holdings in shares of Lakeland Industries by 35.8% in the second quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock valued at $447,000 after buying an additional 5,137 shares during the period. 71.69% of the stock is currently owned by institutional investors and hedge funds.

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.