Royce & Associates LP Cuts Stake in Lydall, Inc. (LDL)

Royce & Associates LP lessened its holdings in Lydall, Inc. (NYSE:LDL) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,210 shares of the auto parts company’s stock after selling 61,000 shares during the quarter. Royce & Associates LP owned 2.07% of Lydall worth $20,411,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LDL. Westwood Holdings Group Inc. bought a new stake in shares of Lydall in the second quarter worth $9,303,000. Chartwell Investment Partners LLC bought a new stake in shares of Lydall in the second quarter worth $5,428,000. Kennedy Capital Management Inc. bought a new stake in shares of Lydall in the second quarter worth $5,156,000. Royal Bank of Canada lifted its position in shares of Lydall by 6.7% in the second quarter. Royal Bank of Canada now owns 989,335 shares of the auto parts company’s stock worth $51,149,000 after purchasing an additional 61,944 shares in the last quarter. Finally, HAP Trading LLC bought a new stake in shares of Lydall in the second quarter worth $2,971,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Lydall, Inc. (LDL) traded down $0.70 during midday trading on Monday, reaching $51.85. 32,800 shares of the company’s stock traded hands, compared to its average volume of 76,825. 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 1 year low of $45.45 and a 1 year high of $64.85. The company has a market capitalization of $893.99, a price-to-earnings ratio of 19.42 and a beta of 1.63.

Lydall (NYSE:LDL) last posted its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $180.00 million for the quarter, compared to the consensus estimate of $172.21 million. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. sell-side analysts expect that Lydall, Inc. will post 2.76 EPS for the current fiscal year.

In other Lydall news, Director William D. Gurley sold 3,252 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $55.15, for a total transaction of $179,347.80. Following the sale, the director now directly owns 49,647 shares of the company’s stock, valued at $2,738,032.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph A. Abbruzzi sold 2,795 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $52.72, for a total transaction of $147,352.40. Following the sale, the insider now directly owns 39,685 shares in the company, valued at $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 over the last ninety days. Insiders own 5.02% of the company’s stock.

A number of brokerages have recently commented on LDL. Sidoti raised shares of Lydall from a “neutral” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Wednesday, September 13th. Zacks Investment Research raised shares of Lydall from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.50.

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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.

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Institutional Ownership by Quarter for Lydall (NYSE:LDL)

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