Lawson Products, Inc. (NASDAQ:LAWS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, August 1st. The brokerage currently has a $27.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 16.13% from the company’s previous close.
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. “
Other equities analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Lawson Products from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Barrington Research upgraded shares of Lawson Products from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Friday, April 21st.
Lawson Products (NASDAQ:LAWS) traded up 0.22% during mid-day trading on Tuesday, hitting $23.25. 13,512 shares of the company traded hands. The firm has a 50 day moving average of $22.09 and a 200 day moving average of $22.68. Lawson Products has a one year low of $15.28 and a one year high of $28.10. The firm has a market capitalization of $206.32 million, a P/E ratio of 39.14 and a beta of 1.47.
Lawson Products (NASDAQ:LAWS) last announced its earnings results on Thursday, July 27th. The industrial products company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.10. The business had revenue of $75.01 million during the quarter, compared to the consensus estimate of $72.41 million. Lawson Products had a net margin of 1.85% and a return on equity of 2.54%. Equities research analysts expect that Lawson Products will post $0.54 earnings per share for the current fiscal year.
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In other news, EVP Neil E. Jenkins sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 11,892 shares in the company, valued at approximately $236,294.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Private Discipline Master Lkcm acquired 13,653 shares of Lawson Products stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $19.87 per share, with a total value of $271,285.11. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 15,767 shares of company stock worth $311,557 and sold 16,690 shares worth $357,279. Corporate insiders own 18.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LAWS. Bank of New York Mellon Corp increased its stake in shares of Lawson Products by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 33,737 shares of the industrial products company’s stock worth $757,000 after buying an additional 350 shares during the period. Menta Capital LLC increased its stake in shares of Lawson Products by 5.7% in the second quarter. Menta Capital LLC now owns 12,986 shares of the industrial products company’s stock worth $288,000 after buying an additional 700 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Lawson Products by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,400 shares of the industrial products company’s stock worth $319,000 after buying an additional 900 shares during the period. Wells Fargo & Company MN increased its stake in shares of Lawson Products by 19.0% in the first quarter. Wells Fargo & Company MN now owns 6,253 shares of the industrial products company’s stock worth $140,000 after buying an additional 1,000 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Lawson Products by 3.1% in the first quarter. Geode Capital Management LLC now owns 44,508 shares of the industrial products company’s stock worth $999,000 after buying an additional 1,338 shares during the period. 65.26% of the stock is owned by hedge funds and other institutional investors.
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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