Schwab Charles Investment Management Inc. Trims Stake in Lydall, Inc. (LDL)

Schwab Charles Investment Management Inc. lessened its holdings in Lydall, Inc. (NYSE:LDL) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,863 shares of the auto parts company’s stock after selling 7,535 shares during the period. Schwab Charles Investment Management Inc. owned 0.49% of Lydall worth $4,863,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pinebridge Investments L.P. raised its holdings in Lydall by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,270 shares of the auto parts company’s stock worth $118,000 after acquiring an additional 22 shares during the period. SG Americas Securities LLC bought a new position in Lydall in the 3rd quarter worth $165,000. Victory Capital Management Inc. raised its holdings in Lydall by 13.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,559 shares of the auto parts company’s stock worth $184,000 after acquiring an additional 421 shares during the period. Cubist Systematic Strategies LLC bought a new position in Lydall in the 2nd quarter worth $278,000. Finally, BNP Paribas Arbitrage SA raised its holdings in Lydall by 49.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,483 shares of the auto parts company’s stock worth $283,000 after acquiring an additional 1,802 shares during the period. 90.22% of the stock is owned by institutional investors and hedge funds.

In other Lydall news, SVP Chad A. Mcdaniel sold 10,912 shares of the business’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 document filed with the SEC, which can be accessed through the SEC website. Also, Director William D. Gurley sold 3,252 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $55.15, for a total transaction of $179,347.80. Following the completion of the transaction, the director now owns 49,647 shares in the company, valued at $2,738,032.05. The disclosure for this sale can be found here. In the last three months, insiders sold 35,701 shares of company stock worth $1,959,897. 5.02% of the stock is currently owned by insiders.

Separately, Zacks Investment Research upgraded shares of Lydall from a “strong sell” rating to a “hold” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.50.

Lydall, Inc. (NYSE:LDL) opened at $48.00 on Wednesday. Lydall, Inc. has a twelve month low of $45.45 and a twelve month high of $63.20. The company has a current ratio of 2.67, a quick ratio of 1.91 and a debt-to-equity ratio of 0.28. The stock has a market cap of $859.51, a PE ratio of 20.69 and a beta of 1.64.

Lydall (NYSE:LDL) last posted its 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). The business had revenue of $180.00 million during the quarter, compared to the consensus estimate of $172.21 million. Lydall had a net margin of 6.00% and a return on equity of 15.22%. Lydall’s quarterly revenue was up 15.6% compared to the same quarter last year. equities research analysts forecast that Lydall, Inc. will post 2.76 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for Lydall (NYSE:LDL)

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