Sidoti & Co. Downgrades Lydall to Neutral

Brokerage firm Sidoti & Co. Downgrades its rating on Lydall(NYSE:LDL). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Sidoti & Co. was issued on Aug 29, 2016.

Lydall (LDL) made into the market gainers list on Thursdays trading session with the shares advancing 0.40% or 0.19 points. Due to strong positive momentum, the stock ended at $48.23, which is also near the day’s high of $48.7. The stock began the session at $48.11 and the volume stood at 71,870 shares. The 52-week high of the shares is $50.64 and the 52 week low is $25.3. The company has a current market capitalization of $827 M and it has 1,71,41,383 shares in outstanding.

Lydall(LDL) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $137.24M. Analysts had an estimated revenue of $138.13M. Earnings per share were $0.70. Analysts had estimated an EPS of $0.62.

Several Insider Transactions has been reported to the SEC. On Aug 23, 2016, Joseph A. Abbruzzi (Pres., Industrial Filtration) sold 2,975 shares at $49.05 per share price.Also, On Aug 16, 2016, Matthew Farrell (director) purchased 2,000 shares at $48.29 per share price.On Aug 9, 2016, S Carl Jr Soderstrom (director) sold 8,250 shares at $46.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Lydall Inc. designs and manufactures specialty engineered non-woven filtration media industrial thermal insulating solutions and thermal and acoustical barriers for filtration or separation and heat abatement and sound dampening applications. The Company’s operates in four segments: Performance Materials Industrial Filtration Thermal/Acoustical Metals and Thermal/Acoustical Fibers. The Performance Materials segment is engaged in the filtration thermal insulation and life sciences filtration businesses. The Industrial Filtration segment is engaged in the Lydall’s industrial non-woven felt media and filter bag business. The Thermal/Acoustical Metals segment is the engaged in the Lydall’s metal parts and related tooling. The Thermal/Acoustical Fibers segment is engaged in the Lydall’s automotive fiber parts business and related tooling business for use in automotive applications. The products are sold to original equipment manufacturers and tier-one suppliers.

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