First Trust Advisors LP Buys 1,580 Shares of Lydall, Inc. (LDL)
First Trust Advisors LP grew its holdings in Lydall, Inc. (NYSE:LDL) by 9.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,772 shares of the auto parts company’s stock after buying an additional 1,580 shares during the quarter. First Trust Advisors LP owned 0.11% of Lydall worth $1,076,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of LDL. Nationwide Fund Advisors boosted its stake in shares of Lydall by 5.1% in the third quarter. Nationwide Fund Advisors now owns 27,189 shares of the auto parts company’s stock worth $1,558,000 after acquiring an additional 1,309 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Lydall in the second quarter worth approximately $9,303,000. The Manufacturers Life Insurance Company boosted its stake in shares of Lydall by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 12,931 shares of the auto parts company’s stock worth $669,000 after acquiring an additional 242 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Lydall in the second quarter worth approximately $278,000. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Lydall by 3.6% in the second quarter. Dana Investment Advisors Inc. now owns 40,324 shares of the auto parts company’s stock worth $2,085,000 after acquiring an additional 1,403 shares during the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.
In other news, SVP Chad A. Mcdaniel sold 10,912 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.68, for a total value of $607,580.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $147,352.40. Following the completion of the transaction, the insider now directly owns 39,685 shares in the company, valued at approximately $2,092,193.20. The disclosure for this sale can be found here. Insiders have sold 38,496 shares of company stock worth $2,107,249 in the last three months. 5.02% of the stock is currently owned by corporate insiders.
LDL has been the topic of a number of research analyst reports. Zacks Investment Research lowered Lydall from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Sidoti raised Lydall from a “neutral” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Lydall has an average rating of “Hold” and an average target price of $62.50.
Lydall, Inc. (NYSE:LDL) traded down $0.35 during midday trading on Tuesday, reaching $53.20. The company’s stock had a trading volume of 31,600 shares, compared to its average volume of 77,319. The firm has a market capitalization of $923.30, a price-to-earnings ratio of 20.06 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 1.91. Lydall, Inc. has a one year low of $45.45 and a one year high of $64.85.
Lydall (NYSE:LDL) last released its quarterly earnings data on Tuesday, October 31st. The auto parts company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.08). The company had revenue of $180.00 million for the quarter, compared to analyst estimates of $172.21 million. Lydall had a return on equity of 15.22% and a net margin of 6.00%. Lydall’s quarterly revenue was up 15.6% compared to the same quarter last year. equities research analysts predict that Lydall, Inc. will post 2.76 earnings per share for the current fiscal year.
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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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