Lawson Products, Inc. (LAWS) Downgraded to “Sell” at Zacks Investment Research
Lawson Products, Inc. (NASDAQ:LAWS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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. “
Several other research firms have also issued reports on LAWS. ValuEngine upgraded Lawson Products from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Barrington Research upgraded Lawson Products from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Friday, April 21st.
Lawson Products (NASDAQ LAWS) traded down 2.05% during mid-day trading on Wednesday, hitting $21.55. The stock had a trading volume of 15,679 shares. The stock has a 50 day moving average of $20.75 and a 200-day moving average of $23.15. Lawson Products has a 1-year low of $15.28 and a 1-year high of $28.10. The firm’s market cap is $190.39 million.
Lawson Products (NASDAQ:LAWS) last posted its quarterly earnings results on Thursday, April 20th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Lawson Products had a negative return on equity of 0.20% and a negative net margin of 0.64%. The company had revenue of $74.62 million during the quarter, compared to the consensus estimate of $72.22 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. Analysts predict that Lawson Products will post $0.39 EPS for the current fiscal year.
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In related news, EVP Neil E. Jenkins sold 5,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $19.87, for a total transaction of $99,350.00. Following the sale, the executive vice president now owns 11,892 shares of the company’s stock, valued at approximately $236,294.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Private Discipline Master Lkcm acquired 13,653 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $19.87 per share, for a total transaction of $271,285.11. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,767 shares of company stock worth $311,557 in the last ninety days. 18.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of LAWS. King Luther Capital Management Corp increased its stake in shares of Lawson Products by 11.8% in the first quarter. King Luther Capital Management Corp now owns 2,210,704 shares of the industrial products company’s stock valued at $49,630,000 after buying an additional 232,616 shares during the last quarter. Cadence Capital Management LLC increased its stake in shares of Lawson Products by 177.8% in the first quarter. Cadence Capital Management LLC now owns 47,164 shares of the industrial products company’s stock valued at $1,059,000 after buying an additional 30,184 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Lawson Products by 33.7% in the fourth quarter. Renaissance Technologies LLC now owns 55,100 shares of the industrial products company’s stock valued at $1,311,000 after buying an additional 13,884 shares during the last quarter. Granahan Investment Management Inc. MA increased its stake in shares of Lawson Products by 4.0% in the first quarter. Granahan Investment Management Inc. MA now owns 338,763 shares of the industrial products company’s stock valued at $7,605,000 after buying an additional 13,080 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Lawson Products by 53.3% in the first quarter. Blair William & Co. IL now owns 20,131 shares of the industrial products company’s stock valued at $497,000 after buying an additional 7,000 shares during the last quarter. 65.68% of the stock is currently owned by institutional investors and hedge funds.
Lawson Products Company Profile
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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