Lawson Products, Inc. (NASDAQ:LAWS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “
LAWS has been the topic of several other reports. KeyCorp reaffirmed a “hold” rating on shares of Lawson Products in a report on Sunday, September 17th. TheStreet raised shares of Lawson Products from a “c+” rating to a “b” rating in a report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Lawson Products currently has an average rating of “Hold” and an average price target of $27.00.
Shares of Lawson Products (NASDAQ LAWS) opened at 25.05 on Wednesday. The company has a market capitalization of $222.29 million, a PE ratio of 42.17 and a beta of 1.58. The stock’s 50 day moving average is $25.02 and its 200 day moving average is $22.52. Lawson Products has a 1-year low of $18.40 and a 1-year high of $28.10.
Lawson Products (NASDAQ:LAWS) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. The company had revenue of $75.01 million for the quarter, compared to analyst estimates of $72.41 million. Lawson Products had a net margin of 1.85% and a return on equity of 2.54%. On average, equities research analysts anticipate that Lawson Products will post $0.54 EPS for the current fiscal year.
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In other Lawson Products news, EVP Neil E. Jenkins sold 5,662 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $22.48, for a total transaction of $127,281.76. Following the sale, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at approximately $283,405.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Lawson Products by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 33,737 shares of the industrial products company’s stock worth $757,000 after acquiring an additional 350 shares during the last quarter. Menta Capital LLC grew its holdings in Lawson Products by 5.7% during the 2nd quarter. Menta Capital LLC now owns 12,986 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 700 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Lawson Products by 6.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,400 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 900 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Lawson Products by 19.0% during the 1st quarter. Wells Fargo & Company MN now owns 6,253 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Lawson Products by 3.1% during the 1st quarter. Geode Capital Management LLC now owns 44,508 shares of the industrial products company’s stock worth $999,000 after acquiring an additional 1,338 shares during the last quarter. 64.21% of the stock is currently owned by hedge funds and other institutional investors.
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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