Lydall (LDL) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Lydall (NYSE:LDL) from a strong sell rating to a hold rating in a research note released 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 shares of Lydall from a neutral rating to a buy rating and set a $62.00 price objective for the company in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $62.50.

Shares of Lydall (LDL) opened at $51.25 on Thursday. The company has a current ratio of 2.67, a quick ratio of 1.91 and a debt-to-equity ratio of 0.28. Lydall has a 12-month low of $45.45 and a 12-month high of $63.20. The firm has a market cap of $883.65, a price-to-earnings ratio of 22.09 and a beta of 1.64.

Lydall (NYSE:LDL) last announced its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). Lydall had a return on equity of 15.22% and a net margin of 6.00%. The business had revenue of $180.00 million for the quarter, compared to analysts’ expectations of $172.21 million. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. analysts anticipate that Lydall will post 2.76 earnings per share for the current year.

In other Lydall news, SVP Chad A. Mcdaniel sold 10,912 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.68, for a total value of $607,580.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director S Carl Soderstrom, Jr. sold 1,588 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $55.00, for a total transaction of $87,340.00. Following the completion of the transaction, the director now directly owns 20,121 shares of the company’s stock, valued at $1,106,655. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,701 shares of company stock valued at $1,959,897. 5.02% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Lydall by 6.7% in the 2nd quarter. Royal Bank of Canada now owns 989,335 shares of the auto parts company’s stock valued at $51,149,000 after purchasing an additional 61,944 shares in the last quarter. Investment Counselors of Maryland LLC raised its stake in shares of Lydall by 8.1% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 402,241 shares of the auto parts company’s stock valued at $23,048,000 after purchasing an additional 30,260 shares in the last quarter. Stifel Financial Corp raised its stake in shares of 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. Northern Trust Corp raised its stake in shares of Lydall by 4.6% in the 2nd quarter. Northern Trust Corp now owns 249,248 shares of the auto parts company’s stock valued at $12,887,000 after purchasing an additional 10,928 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Lydall by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 221,167 shares of the auto parts company’s stock valued at $12,673,000 after purchasing an additional 2,380 shares in the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.

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About Lydall

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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