Panagora Asset Management Inc. Sells 6,603 Shares of Lydall, Inc. (LDL)

Panagora Asset Management Inc. decreased its holdings in Lydall, Inc. (NYSE:LDL) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,032 shares of the auto parts company’s stock after selling 6,603 shares during the quarter. Panagora Asset Management Inc. owned 0.56% of Lydall worth $4,182,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Lydall by 2.4% during the first quarter. Principal Financial Group Inc. now owns 133,022 shares of the auto parts company’s stock valued at $6,418,000 after buying an additional 3,164 shares during the last quarter. Bank of Montreal Can bought a new position in Lydall during the second quarter valued at approximately $192,000. Piedmont Investment Advisors LLC bought a new position in Lydall during the second quarter valued at approximately $176,000. IndexIQ Advisors LLC boosted its stake in Lydall by 6.9% during the second quarter. IndexIQ Advisors LLC now owns 45,335 shares of the auto parts company’s stock valued at $1,979,000 after buying an additional 2,912 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in Lydall by 12.8% during the second quarter. State of Wisconsin Investment Board now owns 88,000 shares of the auto parts company’s stock valued at $3,841,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 91.45% of the company’s stock.

LDL has been the subject of a number of research reports. ValuEngine lowered Lydall from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Zacks Investment Research lowered Lydall from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 13th. Roth Capital set a $53.00 price target on Lydall and gave the company a “buy” rating in a research note on Monday, August 13th. Finally, TheStreet lowered Lydall from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd.

NYSE:LDL opened at $20.16 on Friday. The company has a market capitalization of $365.03 million, a PE ratio of 8.13 and a beta of 1.73. Lydall, Inc. has a 1 year low of $20.00 and a 1 year high of $52.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.60 and a quick ratio of 1.90.

Lydall (NYSE:LDL) last posted its quarterly earnings data on Tuesday, November 6th. The auto parts company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.13). The company had revenue of $197.90 million during the quarter, compared to the consensus estimate of $197.85 million. Lydall had a net margin of 5.47% and a return on equity of 12.07%. Lydall’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 earnings per share. Research analysts expect that Lydall, Inc. will post 2.27 EPS for the current fiscal year.

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Lydall Profile

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.

Further Reading: Balance Sheet

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Institutional Ownership by Quarter for Lydall (NYSE:LDL)

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