Short Interest in Lakeland Industries, Inc. (NASDAQ:LAKE) Grows By 36.0%

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

Lakeland Industries Stock Up 1.3 %

Lakeland Industries stock opened at $26.47 on Thursday. 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’s 50-day moving average is $22.94 and its 200 day moving average is $22.17. Lakeland Industries has a 1-year low of $15.10 and a 1-year high of $26.64.

Lakeland Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, November 15th. Lakeland Industries’s payout ratio is presently -133.33%.

Insider Transactions at Lakeland Industries

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

Institutional Investors Weigh In On Lakeland Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in Lakeland Industries by 2.5% during the 3rd quarter. Royce & Associates LP now owns 730,220 shares of the medical instruments supplier’s stock valued at $14,677,000 after buying an additional 17,579 shares in the last quarter. Renaissance Technologies LLC grew its position in Lakeland Industries by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock worth $11,452,000 after purchasing an additional 13,200 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 1,177 shares during the last quarter. High Falls Advisors Inc increased its position in shares of Lakeland Industries by 46.2% in the 3rd quarter. High Falls Advisors Inc now owns 28,472 shares of the medical instruments supplier’s stock valued at $572,000 after acquiring an additional 9,000 shares during the period. Finally, Barclays PLC purchased a new stake in Lakeland Industries during the 3rd quarter valued at about $306,000. Institutional investors own 71.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on LAKE shares. Roth Mkm boosted their price objective on Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. StockNews.com downgraded Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

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.