LAWS Lawson Products, Inc.

Lawson Products, Inc. engages in distribution of maintenance and repair products to the industrial, commercial, institutional and government market. It operates through Lawson and Bolt segments. The Lawson segment focuses in the large network of sales representatives to visit the customer at the customers' location and produce sales orders for product that is then shipped to the customer, and also provides vendor managed inventory (VMI) services. The Bolt segment sells product to customers when the customers visit one of Bolt's 14 branch locations and the product is delivered to the customers at the point of sale. The company was founded by Sidney L. Port in 1952 and is headquartered in Chicago, IL.

Company profile

Ticker

LAWS

Exchange

NASDAQ

Website

www.lawsonproducts.com

CEO

Michael G. DeCata

Incorporated in

Delaware

Location

Illinois

Fiscal year end

Dec 31

Sector

Distribution Services > Wholesale Distributors

Industry (SEC)

Wholesale - Machinery, Equipment & Supplies

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SEC CIK

0000703604

Corporate docs

Articles of Incorporation & Bylaws

IRS number

362229304

LAWS stock data

S&P 500

1M 1Y 2Y 5Y

Calendar

30 Apr 20

14 Jul 20

31 Dec 20

News

Company financial data Financial data

Chart LAWS financial data

Quarter (USD)	Mar 20	Dec 19	Sep 19	Jun 19
Revenue	91.04M		94.78M	96.1M
Net income	12.53M	-3.01M	4.77M	1.31M
Diluted EPS	1.34	-0.32	0.51	0.14
Net profit margin	13.77%		5.04%	1.36%
Operating income	18.64M	-4.55M	6.45M	1.62M
Net change in cash	-1.4M	-3.13M	1.71M	3.31M
Cash on hand	4.1M	5.5M	8.63M	6.92M
Cost of revenue

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	370.79M	349.64M	305.91M	276.57M
Net income	7.22M	6.21M	29.69M	-1.63M
Diluted EPS	0.77	0.67	3.25	-0.19
Net profit margin	1.95%	1.78%	9.70%	-0.59%
Operating income	9.07M	9.21M	9.94M	-1.46M
Net change in cash	-6.39M	7.47M	-6.01M	-344K
Cash on hand	5.5M	11.88M	4.42M	10.42M
Cost of revenue		160.1M	122.89M	108.51M

Financial data from company earnings reports

Recent insider trades

LAWS insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	$Price	#Shares	$Value	#Remaining
12 May 20	Hillman Lee S	Common Stock, $1.00 par value	Grant	Aquire A	No	34.2	2,193	75K	43,409
12 May 20	Hale Charles D	Common Stock	Grant	Aquire A	No	34.2	2,193	75K	4,202
12 May 20	Albert Andrew B	Common Stock, $1.00 par value	Grant	Aquire A	No	34.2	2,193	75K	54,120
12 May 20	Edelson I Steven	Common Stock, $1.00 par value	Grant	Aquire A	No	34.2	2,193	75K	39,120
12 May 20	Moon Mark F	Common Stock	Grant	Aquire A	No	34.2	2,193	75K	5,898

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

LAWS institutional ownership history Ownership history

85.6% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	69	83	-16.9%
Opened positions	3	15	-80.0%
Closed positions	17	4	+325.0%
Increased positions	27	22	+22.7%
Reduced positions	30	30	–

13F shares	Current	Prev Q	Change
Total value	240.32M	433.68M	-44.6%
Total shares	7.7M	7.73M	-0.3%
Total puts	0	0
Total calls	0	0
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
King Luther Capital Management	4.34M	$116.06M	+0.3%
Dimensional Fund Advisors	551.23K	$14.73M	-3.1%
BLK BlackRock	373.9K	$9.99M	-6.1%
Granahan Investment Management	286.12K	$7.65M	-0.0%
Vanguard	276.27K	$7.38M	+0.9%
TETAB Teton Advisors	271.5K	$7.26M	-0.8%
Royce & Associates	216.2K	$5.78M	+48.7%
GBL Gamco Investors, Inc. Et Al	189.7K	$5.07M	+5.4%
Renaissance Technologies	132.1K	$3.53M	+58.5%
Punch & Associates Investment Management	103.26K	$2.76M	+0.4%

Largest transactions	Shares	Bought/sold	Change
Royce & Associates	216.2K	+70.8K	+48.7%
Renaissance Technologies	132.1K	+48.77K	+58.5%
IVZ Invesco	0	-26.68K	EXIT
Oxford Asset Management	9.34K	-25.02K	-72.8%
BLK BlackRock	373.9K	-24.36K	-6.1%
Dimensional Fund Advisors	551.23K	-17.36K	-3.1%
EAM Investors	34.95K	-15.9K	-31.3%
Squarepoint Ops	11.82K	-14.34K	-54.8%
Panagora Asset Management	38.25K	+12.5K	+48.6%
Millennium Management	12.27K	+12.27K	NEW

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Risks

Management Discussion

We believe that certain non-GAAP financial measures may provide users of this financial information with additional meaningful comparisons between current results and results in prior operating periods. We believe that these non-GAAP financial measures can provide additional meaningful reflection of underlying trends of the business because they provide a comparison of historical information that excludes certain infrequently occurring, seasonal or non-operational items that impact the overall comparability. These non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP.
Adjusted operating income is defined by us as GAAP operating income excluding stock-based compensation and severance expense items in the period in which these items are incurred.
Operating income was $18.6 million for 2020 inclusive of a $10.7 million benefit from stock-based compensation compared to $5.5 million in 2019 which included $0.4 million of stock-based compensation expense. Excluding stock-based compensation and severance, adjusted operating income increased to $7.9 million in 2020 from $6.0 million in 2019 on improved sales margins and leveraging operating costs.

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From filing 10-Q 2020 Q1