Public Sector Pension investment Board cut its position in shares of Lydall, Inc. (NYSE:LDL) by 27.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,882 shares of the auto parts company’s stock after selling 3,300 shares during the period. Public Sector Pension investment Board owned 0.05% of Lydall worth $459,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LDL. BlackRock Inc. boosted its holdings in Lydall by 168,285.2% during the first quarter. BlackRock Inc. now owns 2,079,557 shares of the auto parts company’s stock worth $111,465,000 after buying an additional 2,078,322 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Lydall by 15.6% during the first quarter. Champlain Investment Partners LLC now owns 1,073,070 shares of the auto parts company’s stock worth $57,517,000 after buying an additional 144,425 shares in the last quarter. Chartwell Investment Partners LLC purchased a new stake in Lydall during the second quarter worth $5,428,000. Kennedy Capital Management Inc. purchased a new stake in Lydall during the second quarter worth $5,156,000. Finally, HAP Trading LLC purchased a new stake in Lydall during the second quarter worth $2,971,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Joseph A. Abbruzzi sold 2,795 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $52.72, for a total transaction of $147,352.40. Following the transaction, the insider now directly owns 39,685 shares of the company’s stock, valued at approximately $2,092,193.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.02% of the company’s stock.
A number of analysts recently issued reports on LDL shares. Zacks Investment Research raised shares of Lydall from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Roth Capital set a $63.00 price target on shares of Lydall and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded shares of Lydall from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Sidoti raised shares of Lydall from a “neutral” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Wednesday, September 13th. Finally, ValuEngine downgraded shares of Lydall from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $62.50.
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Shares of Lydall, Inc. (NYSE:LDL) opened at 57.25 on Wednesday. The stock has a market capitalization of $986.59 million, a P/E ratio of 23.56 and a beta of 1.73. Lydall, Inc. has a one year low of $44.14 and a one year high of $64.85. The company’s 50-day moving average is $52.18 and its 200-day moving average is $51.11.
Lydall (NYSE:LDL) last announced its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.10. Lydall had a net margin of 6.56% and a return on equity of 17.43%. The company had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $174.98 million. Lydall’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lydall, Inc. will post $2.91 earnings per share for the current year.
Lydall Company Profile
Lydall, Inc designs and manufactures specialty engineered filtration media, industrial thermal insulating solutions, automotive thermal and acoustical barriers for filtration/separation and thermal/acoustical applications. The Company’s segments are Performance Materials, Technical Nonwovens, Thermal/Acoustical Metals and Thermal/Acoustical Fibers.
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