Allspring Global Investments Holdings LLC Decreases Position in Lakeland Industries, Inc. (NASDAQ:LAKE)

Allspring Global Investments Holdings LLC trimmed its position in Lakeland Industries, Inc. (NASDAQ:LAKEGet Rating) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,184 shares of the medical instruments supplier’s stock after selling 11,510 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lakeland Industries were worth $1,973,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LAKE. UBS Group AG boosted its stake in shares of Lakeland Industries by 64.2% in the first quarter. UBS Group AG now owns 2,347 shares of the medical instruments supplier’s stock worth $45,000 after acquiring an additional 918 shares during the last quarter. Marquette Asset Management LLC purchased a new position in Lakeland Industries during the third quarter worth about $136,000. BNP Paribas Arbitrage SA boosted its stake in Lakeland Industries by 28.8% during the second quarter. BNP Paribas Arbitrage SA now owns 9,729 shares of the medical instruments supplier’s stock worth $149,000 after buying an additional 2,178 shares during the period. High Falls Advisors Inc purchased a new position in shares of Lakeland Industries in the second quarter valued at approximately $185,000. Finally, Advisor Group Holdings Inc. lifted its stake in Lakeland Industries by 37.4% in the first quarter. Advisor Group Holdings Inc. now owns 9,874 shares of the medical instruments supplier’s stock worth $190,000 after acquiring an additional 2,690 shares during the last quarter. 69.98% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Industries Price Performance

Shares of LAKE opened at $14.49 on Friday. The firm has a 50 day simple moving average of $13.43 and a 200-day simple moving average of $13.52. Lakeland Industries, Inc. has a 1-year low of $11.13 and a 1-year high of $21.37. The stock has a market cap of $106.07 million, a price-to-earnings ratio of 36.23 and a beta of 0.47.

Lakeland Industries (NASDAQ:LAKEGet Rating) last issued its quarterly earnings data on Thursday, December 8th. The medical instruments supplier reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). Lakeland Industries had a return on equity of 4.14% and a net margin of 2.78%. The business had revenue of $28.39 million for the quarter, compared to analysts’ expectations of $29.10 million. On average, equities analysts expect that Lakeland Industries, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Lakeland Industries in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Lakeland Industries Company Profile

(Get Rating)

Lakeland Industries, Inc engages in the manufacture and sale of safety garments and accessories for the industrial and public protective clothing market. It operates through the Domestic and International geographical segments. The firm’s products include disposable protective clothing, chemical protective clothing, woven protective clothing, fire protective gear, heat protective clothing, reflective protective clothing, hand and arm protection, arc or fire-retardant rated rainwear, and fire-retardant protective clothing.

Further Reading

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Institutional Ownership by Quarter for Lakeland Industries (NASDAQ:LAKE)

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