Intrinsic value of Lydall - LDL

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$50.00

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$50.00

 
Intrinsic value

$123.46

 
Up/down potential

+147%

 
Rating

str. buy

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of LDL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.00
  26.90
  24.71
  22.74
  20.97
  19.37
  17.93
  16.64
  15.47
  14.43
  13.48
  12.64
  11.87
  11.19
  10.57
  10.01
  9.51
  9.06
  8.65
  8.29
  7.96
  7.66
  7.40
  7.16
  6.94
  6.75
  6.57
  6.41
  6.27
  6.15
  6.03
Revenue, $m
  567
  720
  897
  1,101
  1,332
  1,590
  1,875
  2,188
  2,526
  2,890
  3,280
  3,695
  4,133
  4,596
  5,081
  5,590
  6,122
  6,676
  7,254
  7,855
  8,480
  9,130
  9,805
  10,507
  11,236
  11,994
  12,782
  13,602
  14,455
  15,344
  16,269
Variable operating expenses, $m
 
  619
  770
  943
  1,140
  1,359
  1,602
  1,867
  2,155
  2,465
  2,797
  3,143
  3,516
  3,910
  4,323
  4,755
  5,208
  5,679
  6,171
  6,682
  7,214
  7,767
  8,341
  8,938
  9,558
  10,203
  10,874
  11,572
  12,297
  13,053
  13,841
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  512
  619
  770
  943
  1,140
  1,359
  1,602
  1,867
  2,155
  2,465
  2,797
  3,143
  3,516
  3,910
  4,323
  4,755
  5,208
  5,679
  6,171
  6,682
  7,214
  7,767
  8,341
  8,938
  9,558
  10,203
  10,874
  11,572
  12,297
  13,053
  13,841
Operating income, $m
  55
  101
  128
  158
  192
  231
  274
  320
  371
  425
  483
  552
  617
  686
  759
  835
  914
  997
  1,083
  1,173
  1,266
  1,363
  1,464
  1,568
  1,677
  1,791
  1,908
  2,031
  2,158
  2,291
  2,429
EBITDA, $m
  75
  128
  159
  195
  236
  282
  333
  388
  448
  513
  582
  655
  733
  815
  901
  992
  1,086
  1,184
  1,287
  1,393
  1,504
  1,620
  1,739
  1,864
  1,993
  2,128
  2,268
  2,413
  2,564
  2,722
  2,886
Interest expense (income), $m
  1
  4
  7
  10
  13
  16
  20
  25
  30
  35
  41
  47
  53
  60
  67
  75
  83
  91
  100
  109
  118
  128
  138
  149
  160
  171
  183
  195
  208
  221
  235
Earnings before tax, $m
  55
  97
  121
  148
  180
  215
  253
  295
  341
  390
  443
  505
  564
  626
  691
  760
  831
  905
  983
  1,064
  1,148
  1,235
  1,326
  1,420
  1,518
  1,619
  1,725
  1,835
  1,950
  2,069
  2,194
Tax expense, $m
  18
  26
  33
  40
  49
  58
  68
  80
  92
  105
  119
  136
  152
  169
  187
  205
  224
  244
  265
  287
  310
  333
  358
  383
  410
  437
  466
  496
  526
  559
  592
Net income, $m
  37
  70
  88
  108
  131
  157
  185
  216
  249
  285
  323
  368
  412
  457
  505
  554
  607
  661
  718
  777
  838
  901
  968
  1,036
  1,108
  1,182
  1,259
  1,340
  1,423
  1,511
  1,601

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  72
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  527
  577
  720
  884
  1,069
  1,276
  1,505
  1,756
  2,027
  2,320
  2,633
  2,965
  3,317
  3,688
  4,078
  4,486
  4,913
  5,358
  5,822
  6,304
  6,806
  7,327
  7,869
  8,432
  9,018
  9,626
  10,259
  10,917
  11,601
  12,315
  13,057
Adjusted assets (=assets-cash), $m
  455
  577
  720
  884
  1,069
  1,276
  1,505
  1,756
  2,027
  2,320
  2,633
  2,965
  3,317
  3,688
  4,078
  4,486
  4,913
  5,358
  5,822
  6,304
  6,806
  7,327
  7,869
  8,432
  9,018
  9,626
  10,259
  10,917
  11,601
  12,315
  13,057
Revenue / Adjusted assets
  1.246
  1.248
  1.246
  1.245
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
  1.246
Average production assets, $m
  161
  204
  255
  313
  378
  452
  533
  621
  717
  821
  932
  1,049
  1,174
  1,305
  1,443
  1,588
  1,739
  1,896
  2,060
  2,231
  2,408
  2,593
  2,785
  2,984
  3,191
  3,406
  3,630
  3,863
  4,105
  4,358
  4,621
Working capital, $m
  166
  121
  151
  185
  224
  267
  315
  368
  424
  486
  551
  621
  694
  772
  854
  939
  1,028
  1,122
  1,219
  1,320
  1,425
  1,534
  1,647
  1,765
  1,888
  2,015
  2,147
  2,285
  2,429
  2,578
  2,733
Total debt, $m
  129
  196
  275
  366
  469
  585
  712
  851
  1,002
  1,165
  1,339
  1,524
  1,719
  1,926
  2,142
  2,369
  2,607
  2,854
  3,112
  3,380
  3,659
  3,949
  4,250
  4,563
  4,889
  5,227
  5,579
  5,945
  6,325
  6,722
  7,135
Total liabilities, $m
  254
  321
  400
  491
  594
  710
  837
  976
  1,127
  1,290
  1,464
  1,649
  1,844
  2,051
  2,267
  2,494
  2,732
  2,979
  3,237
  3,505
  3,784
  4,074
  4,375
  4,688
  5,014
  5,352
  5,704
  6,070
  6,450
  6,847
  7,260
Total equity, $m
  273
  256
  320
  392
  475
  567
  668
  780
  900
  1,030
  1,169
  1,317
  1,473
  1,638
  1,811
  1,992
  2,181
  2,379
  2,585
  2,799
  3,022
  3,253
  3,494
  3,744
  4,004
  4,274
  4,555
  4,847
  5,151
  5,468
  5,797
Total liabilities and equity, $m
  527
  577
  720
  883
  1,069
  1,277
  1,505
  1,756
  2,027
  2,320
  2,633
  2,966
  3,317
  3,689
  4,078
  4,486
  4,913
  5,358
  5,822
  6,304
  6,806
  7,327
  7,869
  8,432
  9,018
  9,626
  10,259
  10,917
  11,601
  12,315
  13,057
Debt-to-equity ratio
  0.473
  0.760
  0.860
  0.930
  0.990
  1.030
  1.070
  1.090
  1.110
  1.130
  1.150
  1.160
  1.170
  1.180
  1.180
  1.190
  1.190
  1.200
  1.200
  1.210
  1.210
  1.210
  1.220
  1.220
  1.220
  1.220
  1.220
  1.230
  1.230
  1.230
  1.230
Adjusted equity ratio
  0.442
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  37
  70
  88
  108
  131
  157
  185
  216
  249
  285
  323
  368
  412
  457
  505
  554
  607
  661
  718
  777
  838
  901
  968
  1,036
  1,108
  1,182
  1,259
  1,340
  1,423
  1,511
  1,601
Depreciation, amort., depletion, $m
  20
  27
  32
  37
  44
  51
  59
  68
  77
  88
  99
  104
  116
  129
  143
  157
  172
  188
  204
  221
  238
  257
  276
  295
  316
  337
  359
  382
  406
  431
  457
Funds from operations, $m
  78
  97
  120
  146
  175
  208
  244
  283
  326
  372
  422
  472
  528
  586
  647
  712
  779
  849
  922
  997
  1,076
  1,158
  1,243
  1,332
  1,424
  1,519
  1,619
  1,722
  1,830
  1,942
  2,059
Change in working capital, $m
  8
  26
  30
  34
  39
  43
  48
  52
  57
  61
  65
  70
  74
  78
  82
  85
  89
  93
  97
  101
  105
  109
  113
  118
  123
  127
  132
  138
  143
  149
  155
Cash from operations, $m
  70
  112
  90
  111
  136
  164
  196
  231
  269
  311
  356
  403
  454
  508
  566
  626
  689
  756
  825
  896
  971
  1,049
  1,130
  1,214
  1,301
  1,392
  1,486
  1,585
  1,687
  1,793
  1,903
Maintenance CAPEX, $m
  0
  -16
  -20
  -25
  -31
  -37
  -45
  -53
  -62
  -71
  -81
  -92
  -104
  -116
  -129
  -143
  -157
  -172
  -188
  -204
  -221
  -238
  -257
  -276
  -295
  -316
  -337
  -359
  -382
  -406
  -431
New CAPEX, $m
  -25
  -43
  -50
  -58
  -66
  -73
  -81
  -89
  -96
  -103
  -111
  -118
  -125
  -131
  -138
  -144
  -151
  -157
  -164
  -171
  -178
  -185
  -192
  -199
  -207
  -215
  -224
  -233
  -242
  -252
  -263
Cash from investing activities, $m
  -178
  -59
  -70
  -83
  -97
  -110
  -126
  -142
  -158
  -174
  -192
  -210
  -229
  -247
  -267
  -287
  -308
  -329
  -352
  -375
  -399
  -423
  -449
  -475
  -502
  -531
  -561
  -592
  -624
  -658
  -694
Free cash flow, $m
  -108
  53
  19
  28
  40
  54
  70
  90
  112
  137
  164
  193
  226
  261
  299
  339
  381
  426
  473
  522
  573
  626
  681
  739
  799
  861
  925
  992
  1,062
  1,134
  1,209
Issuance/(repayment) of debt, $m
  106
  68
  79
  91
  103
  115
  127
  139
  151
  163
  174
  185
  196
  206
  217
  227
  237
  247
  258
  268
  279
  290
  301
  313
  325
  338
  352
  366
  381
  396
  413
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  106
  68
  79
  91
  103
  115
  127
  139
  151
  163
  174
  185
  196
  206
  217
  227
  237
  247
  258
  268
  279
  290
  301
  313
  325
  338
  352
  366
  381
  396
  413
Total cash flow (excl. dividends), $m
  -4
  121
  98
  119
  143
  169
  198
  229
  263
  299
  338
  378
  421
  467
  515
  566
  618
  673
  730
  790
  852
  916
  983
  1,052
  1,124
  1,199
  1,277
  1,358
  1,443
  1,530
  1,622
Retained Cash Flow (-), $m
  -28
  -54
  -63
  -73
  -82
  -92
  -102
  -111
  -121
  -130
  -139
  -148
  -156
  -165
  -173
  -181
  -189
  -198
  -206
  -214
  -223
  -232
  -241
  -250
  -260
  -270
  -281
  -292
  -304
  -317
  -330
Prev. year cash balance distribution, $m
 
  71
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  138
  35
  47
  60
  77
  96
  118
  142
  169
  199
  230
  265
  302
  342
  385
  429
  476
  525
  576
  629
  684
  742
  802
  864
  929
  996
  1,066
  1,138
  1,214
  1,292
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  132
  32
  41
  50
  60
  70
  80
  89
  97
  104
  109
  113
  115
  115
  113
  109
  104
  97
  89
  80
  71
  62
  53
  44
  36
  29
  23
  18
  13
  10
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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, Thermal/Acoustical Metals, and Thermal/Acoustical Fibers segments. The Performance Materials segment offers filtration media solutions for air, fluid power, and industrial applications, such as clean-space, commercial, HVAC, power generation, and industrial processes. This segment also provides non-woven veils, papers, mats, and specialty composites for the building products, appliances, and energy and industrial markets; and life sciences filtration products for biopharmaceutical pre-filtration and clarification, diagnostic and analytical testing, respiratory protection, water filtration, and high purity process filtration. The Technical Nonwovens segment offers non-woven felt media and filter bags for industrial air and liquid filtration applications. The Thermal/Acoustical Metals segment provides engineered products for the transportation sector to thermally shield sensitive components from high heat, improve exhaust gas treatment, and lower harmful emissions, as well as assist to reduce powertrain and road noise. Its products are used in the tunnel, fuel tank, rear muffler, and spare tire applications, as well as outer dash, powertrain, catalytic converter, turbo charger, and manifolds of cars, trucks, SUVs, heavy duty trucks, and recreational vehicles. The Thermal/Acoustical Fibers segment offers thermal and acoustical insulating solutions comprising organic and inorganic fiber composites for the automotive and truck markets. The company markets its products to original equipment manufacturers and tier-one suppliers through internal sales force and distribution network. Lydall, Inc. was founded in 1879 and is headquartered in Manchester, Connecticut.

FINANCIAL RATIOS  of  Lydall (LDL)

Valuation Ratios
P/E Ratio 23.3
Price to Sales 1.5
Price to Book 3.2
Price to Tangible Book
Price to Cash Flow 12.3
Price to Free Cash Flow 19.1
Growth Rates
Sales Growth Rate 8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 19%
Cap. Spend. - 3 Yr. Gr. Rate 12.3%
Financial Strength
Quick Ratio 72
Current Ratio 0
LT Debt to Equity 46.9%
Total Debt to Equity 47.3%
Interest Coverage 56
Management Effectiveness
Return On Assets 8.5%
Ret/ On Assets - 3 Yr. Avg. 9.5%
Return On Total Capital 11.1%
Ret/ On T. Cap. - 3 Yr. Avg. 12.8%
Return On Equity 14.3%
Return On Equity - 3 Yr. Avg. 15%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 24.5%
Gross Margin - 3 Yr. Avg. 23.1%
EBITDA Margin 13.4%
EBITDA Margin - 3 Yr. Avg. 13.4%
Operating Margin 9.7%
Oper. Margin - 3 Yr. Avg. 9.9%
Pre-Tax Margin 9.7%
Pre-Tax Margin - 3 Yr. Avg. 9.9%
Net Profit Margin 6.5%
Net Profit Margin - 3 Yr. Avg. 6.5%
Effective Tax Rate 32.7%
Eff/ Tax Rate - 3 Yr. Avg. 34.4%
Payout Ratio 0%

LDL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LDL stock intrinsic value calculation we used $567 million for the last fiscal year's total revenue generated by Lydall. The default revenue input number comes from 2016 income statement of Lydall. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LDL stock valuation model: a) initial revenue growth rate of 26.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for LDL is calculated based on our internal credit rating of Lydall, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Lydall.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LDL stock the variable cost ratio is equal to 86.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for LDL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Lydall.

Corporate tax rate of 27% is the nominal tax rate for Lydall. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LDL stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LDL are equal to 28.4%.

Life of production assets of 10.1 years is the average useful life of capital assets used in Lydall operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LDL is equal to 16.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $273 million for Lydall - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 17.619 million for Lydall is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Lydall at the current share price and the inputted number of shares is $0.9 billion.


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COMPANY NEWS

▶ ETFs with exposure to Lydall, Inc. : May 18, 2017   [May-18-17 01:50PM  Capital Cube]
▶ Lydall posts 1Q profit   [May-02-17 07:01PM  Associated Press]
▶ Lydall, Inc. Value Analysis (NYSE:LDL) : April 27, 2017   [Apr-27-17 04:58PM  Capital Cube]
▶ Lydall to Report First Quarter 2017 Results on May 2, 2017   [Apr-20-17 04:30PM  GlobeNewswire]
▶ ETFs with exposure to Lydall, Inc. : April 17, 2017   [Apr-17-17 12:57PM  Capital Cube]
▶ Lydall posts 4Q profit   [Feb-22-17 05:16PM  Associated Press]
▶ Lydall to Report Fourth Quarter and Year Ended 2016 Results   [Feb-10-17 04:30PM  GlobeNewswire]
▶ Lydall, Inc. Value Analysis (NYSE:LDL) : January 19, 2017   [Jan-19-17 10:58AM  Capital Cube]
▶ Lydall Completes Acquisition of Gutsche   [Jan-03-17 08:00AM  GlobeNewswire]
▶ Is Lydall, Inc. (LDL) Going to Burn These Hedge Funds?   [Dec-09-16 11:03AM  at Insider Monkey]
▶ Lydall to Report Third Quarter 2016 Results   [Oct-19-16 03:07PM  GlobeNewswire]
▶ Lydall Performance Materials Names New President   [Feb-15-16 04:30PM  GlobeNewswire]
▶ Lydall Names New Chief Financial Officer   [12:59PM  GlobeNewswire]
▶ 10-Q for Lydall, Inc.   [Aug-13  08:10PM  at Company Spotlight]
Stock chart of LDL Financial statements of LDL Annual reports of LDL
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