Parthenon Lowers stake in Lakeland Industries (LAKE)

Lakeland Industries (LAKE) : Parthenon reduced its stake in Lakeland Industries by 3.31% during the most recent quarter end. The investment management company now holds a total of 163,763 shares of Lakeland Industries which is valued at $1,501,707 after selling 5,600 shares in Lakeland Industries , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Lakeland Industries makes up approximately 0.37% of Parthenon’s portfolio.

Other Hedge Funds, Including , Creative Planning added LAKE to its portfolio by purchasing 1,000 company shares during the most recent quarter which is valued at $9,300.

Lakeland Industries opened for trading at $10.12 and hit $10.45 on the upside on Friday, eventually ending the session at $10.14, with a gain of 1.40% or 0.14 points. The heightened volatility saw the trading volume jump to 93,755 shares. Company has a market cap of $74 M.

On the company’s financial health, Lakeland Industries reported $-0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.15. The company had revenue of $20.47 million for the quarter, compared to analysts expectations of $22.65 million. The company’s revenue was down -19.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.69 EPS.

Lakeland Industries Inc. (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing high-end chemical protective suits firefighting flame resistant personal protective equipment (FR PPE) heat protective apparel reusable woven garments high visibility clothing and glove and sleeves. The Company’s products are sold by its in-house customer service group its regional sales managers and independent sales representatives to a network of approximately 1200 North American safety and mill supply distributors. These distributors in turn supply end user industrial customers such as integrated oil chemical/petrochemical utilities automobile steel glass construction smelting munition plants janitorial pharmaceutical mortuaries and high technology electronics manufacturers as well as scientific and medical laboratories.

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