Lawson Products, Inc. (NASDAQ:LAWS) Expected to Post Quarterly Sales of $74.16 Million
Wall Street brokerages forecast that Lawson Products, Inc. (NASDAQ:LAWS) will post $74.16 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lawson Products’ earnings, with estimates ranging from $73.71 million to $74.60 million. Lawson Products posted sales of $70.20 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The company is scheduled to report its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Lawson Products will report full year sales of $74.16 million for the current year, with estimates ranging from $293.68 million to $294.40 million. For the next year, analysts expect that the firm will report sales of $307.75 million per share, with estimates ranging from $306.80 million to $308.70 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Lawson Products.
Lawson Products (NASDAQ:LAWS) last posted its earnings results on Thursday, July 27th. The industrial products company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Lawson Products had a net margin of 1.85% and a return on equity of 2.54%. The firm had revenue of $75.01 million during the quarter, compared to analysts’ expectations of $72.41 million.
A number of research firms have recently commented on LAWS. Zacks Investment Research downgraded shares of Lawson Products from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. ValuEngine raised shares of Lawson Products from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barrington Research raised shares of Lawson Products from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Friday, April 21st.
Lawson Products (NASDAQ:LAWS) traded up 0.23% on Friday, reaching $22.25. 5,608 shares of the company’s stock traded hands. The firm’s 50-day moving average is $21.41 and its 200 day moving average is $22.70. The stock has a market capitalization of $197.45 million, a PE ratio of 37.46 and a beta of 1.47. Lawson Products has a 52-week low of $15.28 and a 52-week high of $28.10.
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In related news, EVP Neil E. Jenkins sold 5,000 shares of Lawson Products stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $19.87, for a total transaction of $99,350.00. Following the completion of the transaction, the executive vice president now directly owns 11,892 shares of the company’s stock, valued at approximately $236,294.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Private Discipline Master Lkcm purchased 13,653 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were 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. Over the last three months, insiders have purchased 15,767 shares of company stock valued at $311,557 and have sold 16,266 shares valued at $347,230. Company insiders own 18.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LAWS. State Street Corp increased its position in shares of Lawson Products by 10.5% in the fourth quarter. State Street Corp now owns 66,197 shares of the industrial products company’s stock valued at $1,575,000 after buying an additional 6,275 shares in the last quarter. Renaissance Technologies LLC increased its position 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 in the last quarter. Wells Fargo & Company MN increased its position 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 valued at $140,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $757,000 after buying an additional 350 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Lawson Products during the first quarter valued at about $132,000. 65.37% 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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