First Eagle Investment Management LLC Invests $571,000 in Lakeland Industries, Inc. (NASDAQ:LAKE)

First Eagle Investment Management LLC acquired a new position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 22,352 shares of the medical instruments supplier’s stock, valued at approximately $571,000. First Eagle Investment Management LLC owned about 0.24% of Lakeland Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank acquired a new position in shares of Lakeland Industries in the third quarter worth $41,000. Royce & Associates LP lifted its holdings in Lakeland Industries by 2.5% in the 3rd quarter. Royce & Associates LP now owns 730,220 shares of the medical instruments supplier’s stock valued at $14,677,000 after purchasing an additional 17,579 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of 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 during the last quarter. Barclays PLC purchased a new stake in shares of Lakeland Industries during the third quarter worth about $306,000. Finally, High Falls Advisors Inc raised its position in shares of Lakeland Industries by 46.2% in the third quarter. High Falls Advisors Inc now owns 28,472 shares of the medical instruments supplier’s stock valued at $572,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Lakeland Industries Stock Performance

NASDAQ:LAKE opened at $20.10 on Monday. Lakeland Industries, Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $27.28. The firm’s 50 day moving average is $23.69 and its two-hundred day moving average is $22.23. The company has a market cap of $190.93 million, a P/E ratio of -223.33 and a beta of 0.96. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 17th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, February 14th. Lakeland Industries’s payout ratio is currently -133.33%.

Insider Buying and Selling at Lakeland Industries

In other news, Director Nikki Hamblin bought 2,220 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $23.08 per share, for a total transaction of $51,237.60. Following the acquisition, the director now owns 15,862 shares of the company’s stock, valued at $366,094.96. This trade represents a 16.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Laurel A. Yartz purchased 2,272 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was acquired at an average price of $22.00 per share, for a total transaction of $49,984.00. Following the acquisition, the insider now directly owns 9,772 shares of the company’s stock, valued at $214,984. This trade represents a 30.29 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 11,208 shares of company stock valued at $253,520. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Lake Street Capital assumed coverage on shares of Lakeland Industries in a research note on Tuesday, March 11th. They issued a “buy” rating and a $30.00 target price for the company. Roth Mkm upped their target price on Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th.

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.