Lydall (NYSE:LDL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Lydall, Inc. is a New York Stock Exchange listed company, headquartered in Manchester, Connecticut with global manufacturing operations producing specialty engineered products for the thermal/acoustical and filtration/separation markets. The company develops and manufactures engineered materials for a variety of applications. Lydall Inc., operates through the following business segments: Performance Materials segment, Technical Nonwovens segment, Thermal and Acoustical Metals segment and Thermal and Acoustical Fibers segment. With operations in Europe, North America, and Asia Lydall, Inc., provides a wide range of engineered products designed and manufactured for industrial applications. Lydall’s products are found primarily in underbody and under hood applications within vehicles. Lydall, Inc. is headquartered in Manchester, CT. “
Separately, Sidoti raised Lydall from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.50.
Lydall (NYSE:LDL) last issued its earnings results on Tuesday, October 31st. The auto parts company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.08). The firm had revenue of $180.00 million during the quarter, compared to analysts’ expectations of $172.21 million. Lydall had a return on equity of 15.22% and a net margin of 6.00%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. sell-side analysts expect that Lydall will post 2.76 earnings per share for the current year.
In related news, Director S Carl Soderstrom, Jr. sold 1,588 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $55.00, for a total value of $87,340.00. Following the completion of the sale, the director now directly owns 20,121 shares in the company, valued at approximately $1,106,655. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dale G. Barnhart sold 12,685 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $53.90, for a total value of $683,721.50. The disclosure for this sale can be found here. Insiders sold a total of 35,701 shares of company stock worth $1,959,897 over the last ninety days. Corporate insiders own 5.02% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new stake in Lydall in the 2nd quarter valued at $596,000. State of Wisconsin Investment Board acquired a new stake in Lydall in the 3rd quarter valued at $1,356,000. Crossmark Global Holdings Inc. acquired a new stake in Lydall in the 3rd quarter valued at $366,000. Parametric Portfolio Associates LLC increased its holdings in Lydall by 29.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 32,520 shares of the auto parts company’s stock valued at $1,681,000 after purchasing an additional 7,414 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Lydall by 6.7% in the 3rd quarter. Stifel Financial Corp now owns 275,783 shares of the auto parts company’s stock valued at $15,781,000 after purchasing an additional 17,254 shares in the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.
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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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