Lakeland Industries, Inc. (NASDAQ:LAKE – Get Free Report) 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 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, August 15th.
Lakeland Industries has a payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance
NASDAQ LAKE remained flat at $23.00 on Wednesday. 1,671 shares of the company’s stock traded hands, compared to its average volume of 34,301. The stock’s fifty day simple moving average is $22.81 and its 200-day simple moving average is $19.19. The company has a market capitalization of $169.69 million, a price-to-earnings ratio of 30.67 and a beta of 0.58. Lakeland Industries has a 1 year low of $13.63 and a 1 year high of $24.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 5.39.
Insider Buying and Selling at Lakeland Industries
In other news, CEO James M. Jenkins purchased 2,085 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were bought 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 directly owns 75,728 shares of the company’s stock, valued at $1,815,957.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.20% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on LAKE shares. Maxim Group boosted their price target on shares of Lakeland Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Roth Mkm boosted their price objective on Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.
Check Out Our Latest Analysis on Lakeland Industries
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.
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