Dallas, Texas 07/09/2015 (Financialstrend) – Lawson Products, Inc. (NASDAQ:LAWS) was in the news on Wednesday for some insider activity. One of the company’s largest shareholders’ King Luther Capital Management, on Tuesday, bought 26,756 shares of the company stock.
The insider buying, priced at $23.45 per share at $627,428.20 was revealed via Securities and Exchange Commission filing. Regulations require that companies which hold more than 10% of a company’s shares are required to file sales or purchases activity before the SEC.
In past month, King Luther Capital Management has been steadily making purchases of Lawson Products.
Cache of 4 purchases in the past month
The first of recent purchases was on June 26th, when it bought 76,793 shares prices at $23.48 per share. This was followed by a purchase of 1,719 shares on June 30, 2015. The average price was $22.74 per share. The third of the purchases was on July 6, when it acquired 22,600 shares priced at $23.44 per share. The last of the recent cache of share purchases made by King Luther Capital Management has been 14,917 shares priced at $23.48 per share.
However, share prices of Lawson Products, Inc. (NASDAQ:LAWS) on Wednesday were contrary to the insider buying activity. The shares were down by as much as 0.42% on Wednesday.
The latest quarterly report of the company was on April 30. It had reported EPS of $0.16, which was ahead of the estimated returns expected by $0.23. Revenue reported was $69.90 million as against expectations of $69.20 million. Analyst firms indicate that the company is set post $0.13 EPS this year.
Lawson Products, Inc. (NASDAQ:LAWS) which produces several types of fastening systems, besides electrical components, abrasives as well as cutting tools and aftermarket automotive supplies. In recent times the company has risen from disappointing lows but appeared to dip further on Wednesday. This is despite the diverse range of nearly 30,000 products that the company offers, but which has been witness sluggish sale patterns.