Lakeland Industries, Inc. Announces Quarterly Dividend of $0.03 (NASDAQ:LAKE)

Lakeland Industries, Inc. (NASDAQ:LAKE) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.03 per share by the medical instruments supplier on Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Thursday, August 15th.

Lakeland Industries has a dividend payout ratio of 5.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lakeland Industries to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 6.2%.

Lakeland Industries Trading Down 2.9 %

LAKE stock traded down $0.67 on Friday, reaching $22.65. The company’s stock had a trading volume of 29,071 shares, compared to its average volume of 34,512. The business has a fifty day simple moving average of $22.22 and a two-hundred day simple moving average of $18.94. Lakeland Industries has a 12-month low of $13.63 and a 12-month high of $24.80. The firm has a market cap of $167.61 million, a PE ratio of 30.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 5.39.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Tuesday, June 4th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.16). Lakeland Industries had a return on equity of 6.84% and a net margin of 4.34%. The firm had revenue of $36.31 million during the quarter, compared to the consensus estimate of $31.90 million. As a group, research analysts forecast that Lakeland Industries will post 1.51 EPS for the current year.

Insider Activity at Lakeland Industries

In other news, CEO James M. Jenkins bought 2,085 shares of the company’s stock in a transaction on Monday, June 10th. The shares were acquired at an average cost of $23.98 per share, with a total value of $49,998.30. Following the completion of the transaction, the chief executive officer now owns 75,728 shares of the company’s stock, valued at approximately $1,815,957.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LAKE has been the subject of several analyst reports. Roth Mkm raised their price target on Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Maxim Group increased their price objective on Lakeland Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

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.