Highbridge Capital Management LLC Takes Position in Lydall, Inc. (LDL)

Highbridge Capital Management LLC acquired a new position in shares of Lydall, Inc. (NYSE:LDL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,652 shares of the auto parts company’s stock, valued at approximately $381,000.

Other hedge funds have also recently modified their holdings of the company. Pinebridge Investments L.P. raised its holdings in Lydall by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 2,270 shares of the auto parts company’s stock worth $118,000 after purchasing an additional 22 shares during the last quarter. SG Americas Securities LLC acquired a new position in Lydall during the third quarter worth $165,000. Victory Capital Management Inc. raised its holdings in Lydall by 13.4% during the second quarter. Victory Capital Management Inc. now owns 3,559 shares of the auto parts company’s stock worth $184,000 after purchasing an additional 421 shares during the last quarter. Aperio Group LLC raised its holdings in Lydall by 10.8% during the second quarter. Aperio Group LLC now owns 4,217 shares of the auto parts company’s stock worth $218,000 after purchasing an additional 410 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Lydall during the second quarter worth $278,000. 90.22% of the stock is owned by hedge funds and other institutional investors.

LDL has been the subject of a number of analyst reports. Sidoti raised Lydall from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a report on Wednesday, September 13th. Zacks Investment Research raised Lydall from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Lydall has a consensus rating of “Hold” and an average target price of $62.50.

In related news, Director William D. Gurley sold 3,252 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $55.15, for a total value of $179,347.80. Following the completion of the transaction, the director now directly owns 49,647 shares in the company, valued at $2,738,032.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dale G. Barnhart sold 12,685 shares of the company’s 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. Over the last three months, insiders sold 35,701 shares of company stock valued at $1,959,897. Insiders own 5.02% of the company’s stock.

Lydall, Inc. (NYSE LDL) opened at $51.70 on Tuesday. Lydall, Inc. has a 1-year low of $45.45 and a 1-year high of $64.75. The firm has a market capitalization of $869.85, a price-to-earnings ratio of 18.90 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 (NYSE:LDL) last released its quarterly earnings results 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). Lydall had a return on equity of 15.22% and a net margin of 6.00%. The company had revenue of $180.00 million during the quarter, compared to analyst estimates of $172.21 million. Lydall’s revenue for the quarter was up 15.6% compared to the same quarter last year. equities research analysts anticipate that Lydall, Inc. will post 2.76 EPS for the current year.

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Lydall 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.

Institutional Ownership by Quarter for Lydall (NYSE:LDL)

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