Olstein Capital Management L.P. Takes Position in Lydall, Inc. (NYSE:LDL)
Olstein Capital Management L.P. purchased a new stake in Lydall, Inc. (NYSE:LDL) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 60,000 shares of the auto parts company’s stock, valued at approximately $1,212,000. Olstein Capital Management L.P. owned 0.34% of Lydall as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of Lydall by 0.9% in the 1st quarter. US Bancorp DE now owns 51,505 shares of the auto parts company’s stock valued at $1,209,000 after acquiring an additional 459 shares during the period. Texas Permanent School Fund raised its stake in shares of Lydall by 4.6% in the 1st quarter. Texas Permanent School Fund now owns 11,913 shares of the auto parts company’s stock valued at $279,000 after acquiring an additional 522 shares during the period. Rhumbline Advisers raised its stake in shares of Lydall by 1.9% in the 1st quarter. Rhumbline Advisers now owns 50,418 shares of the auto parts company’s stock valued at $1,183,000 after acquiring an additional 947 shares during the period. Principal Financial Group Inc. raised its stake in shares of Lydall by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 141,320 shares of the auto parts company’s stock valued at $2,870,000 after acquiring an additional 988 shares during the period. Finally, Comerica Bank raised its stake in shares of Lydall by 12.7% in the 1st quarter. Comerica Bank now owns 19,082 shares of the auto parts company’s stock valued at $489,000 after acquiring an additional 2,149 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.
LDL traded up $0.35 during trading hours on Tuesday, hitting $20.46. 1,529 shares of the company’s stock were exchanged, compared to its average volume of 102,004. Lydall, Inc. has a 12-month low of $17.90 and a 12-month high of $46.50. The stock’s 50 day moving average price is $20.09. The stock has a market cap of $358.76 million, a price-to-earnings ratio of 8.51 and a beta of 1.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.73 and a current ratio of 2.40.
In related news, insider Joseph A. Abbruzzi sold 3,362 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $19.77, for a total transaction of $66,466.74. Following the sale, the insider now directly owns 47,020 shares of the company’s stock, valued at approximately $929,585.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.85% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Lydall from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Roth Capital set a $24.00 target price on shares of Lydall and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Finally, Zacks Investment Research downgraded shares of Lydall from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Lydall presently has a consensus rating of “Hold” and an average target price of $36.00.
Lydall, Inc designs, manufactures, and markets specialty engineered filtration media, industrial thermal insulating solutions, and automotive thermal and acoustical barriers for filtration/separation and thermal/acoustical applications worldwide. It operates through Performance Materials, Technical Nonwovens, and Thermal Acoustical Solutions segments.
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