Lawson Products Inc. (LAWS) Upgraded by Zacks Investment Research to “Hold”
Lawson Products Inc. (NASDAQ:LAWS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Lawson Products, Inc. is a distributor of expendable maintenance, repair & replacement products. It also distributes production components to the O.E.M. marketplace. These products may be divided into 3 broad categories: Fasteners, Fittings & Related Parts, such as screws, nuts, & other fasteners; Industrial Supplies, such as hoses, lubricants, adhesives & other chemicals, as well as files, drills, & other shop supplies; & Automotive & Equipment Maintenance Parts, such as primary wiring, connectors & other electrical supplies, exhaust & other automotive parts. “
Separately, Barrington Research downgraded shares of Lawson Products from an “outperform” rating to a “market perform” rating in a research note on Friday, July 22nd.
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Lawson Products (NASDAQ:LAWS) traded up 0.47% during trading on Wednesday, reaching $17.27. The company had a trading volume of 6,189 shares. Lawson Products has a 12-month low of $15.23 and a 12-month high of $29.64. The stock has a 50 day moving average of $16.96 and a 200-day moving average of $18.87. The stock’s market capitalization is $151.91 million.
Lawson Products (NASDAQ:LAWS) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.12. The firm earned $69.30 million during the quarter, compared to the consensus estimate of $71.18 million. Lawson Products had a positive return on equity of 0.10% and a negative net margin of 0.03%. On average, analysts forecast that Lawson Products will post $0.08 earnings per share for the current fiscal year.
In other news, SVP Shane Mccarthy sold 1,966 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $15.79, for a total transaction of $31,043.14. Following the transaction, the senior vice president now directly owns 6,296 shares of the company’s stock, valued at $99,413.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Neil E. Jenkins sold 6,507 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $16.42, for a total transaction of $106,844.94. Following the transaction, the executive vice president now directly owns 4,337 shares in the company, valued at $71,213.54. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Lawson Products by 15.4% in the first quarter. State Street Corp now owns 60,418 shares of the company’s stock worth $1,182,000 after buying an additional 8,070 shares during the period. Geode Capital Management LLC raised its position in shares of Lawson Products by 4.7% in the first quarter. Geode Capital Management LLC now owns 40,123 shares of the company’s stock worth $785,000 after buying an additional 1,812 shares during the period. Strs Ohio raised its position in shares of Lawson Products by 4.0% in the second quarter. Strs Ohio now owns 27,100 shares of the company’s stock worth $538,000 after buying an additional 1,053 shares during the period. Gabelli Funds LLC raised its position in shares of Lawson Products by 4.3% in the second quarter. Gabelli Funds LLC now owns 94,955 shares of the company’s stock worth $1,886,000 after buying an additional 3,955 shares during the period. Finally, Panagora Asset Management Inc. raised its position in shares of Lawson Products by 11.3% in the first quarter. Panagora Asset Management Inc. now owns 69,201 shares of the company’s stock worth $1,355,000 after buying an additional 7,003 shares during the period. 62.92% of the stock is currently owned by institutional investors and hedge funds.
About Lawson Products
Lawson Products, Inc is a distributor of products and services the industrial, commercial, institutional and government maintenance, repair and operations (MRO) market. The Company’s product categories include fastening systems, fluid power, specialty chemicals, cutting tools and abrasives, electrical, aftermarket automotive supplies, safety, welding and metal repair, and other.
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