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LUFK

Lufkin Industries, Inc.

5/20/2013, 9:07 AM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 3, 12:18 PM GE's nearly $3B acquisition of Lufkin Industries (LUFK) receives antitrust approval from the FTC. The companies hope to close the deal - which will sharply increase GE's presence in the shale industry - by June. 4 Comments [M&A]
Thursday, May 2, 2:59 PM Lufkin Industries (LUFK) declares $0.125/share quarterly dividend, in line with previous. Forward yield 0.57%. For shareholders of record June 03. Payable June 10. Ex-div date May 30. (PR) 1 Comment [Dividends]
Tuesday, April 9, 11:47 AM GE's planned purchase of pump maker Lufkin (LUFK) at the industry’s most expensive price tag highlights demand for oilfield equipment that may spark takeover interest from large-cap oilfield servicers for Weatherford (WFT), Flotek (FTK) and Tesco (TESO), Bloomberg writes. Even after WFT surged yesterday on the Lufkin news, its $18B enterprise value still equals just 7.3x trailing 12-month EBITDA. Comment! [Energy, M&A]
Monday, April 8, 6:45 PM Analyst reaction to GE's $3.3B purchase of Lufkin (LUFK) is decidedly mixed, with some calling the price "stunning" while others believe the premium is worth it since GE is paying for growth prospects; LUFK’s revenue rose 37% in 2012. But GE does not have a history of driving hard bargains; after years of decent but not big returns from its energy spending spree, shareholders might want to temper their optimism. 4 Comments [Energy]
Monday, April 8, 3:31 PM Also enjoying a boost from GE's purchase of Lufkin (LUFK) are small- and mid-cap makers of drilling and production equipment for use in deepwater and other harsh environments. GE has paid "strikingly high multiples relative to the risks," Wells Fargo says, possibly sparking an upward revaluation" of names such as Dril-Quip (DRQ +1.7%), Dresser-Rand (DRC +3.5%) and Oceaneering (OII +2.6%). 1 Comment [Energy, On the Move]
Monday, April 8, 3:19 PM GE's "stunning" $3.3B purchase price for Lufkin (LUFK +37.5%) means Weatherford's (WFT +3.5%) similar business could be worth even more, given its size and global scale, Cowen says. Credit Suisse says the deal reflects the increasing importance of artificial-lift technology as firms pursue oil using unconventional methods. Dover (DOV +1.5%), a third company in the sector, also is up. Comment! [Energy, M&A, On the Move]
Monday, April 8, 9:10 AM Premarket gainers: LUFK +38%. BSDM +34%. BCRX +18%. UNXL +15%. GOL +10%. TSL +7%.
Losers: OMPI -6%. DCTH -5%. Comment! [On the Move]
Monday, April 8, 8:04 AM Lufkin Industries (LUFK) zooms 37% higher to $87.78, just under GE's (GE +0.4%) acquisition offer of $88.50/share, which represents a 38% premium to Lufkin's close on Friday. "GE (is) putting together (a) soup to nuts oil service company now because of U.S. drilling," Jim Cramer tweets. Shares in Lufkin's main rival, Weatherford International (WFT), +4.15%. 3 Comments [On the Move, M&A, Energy]
Monday, April 8, 6:56 AM General Electric (GE) confirms it will purchase Lufkin Industries (LUFK) for $88.50 per share in a $3.3B deal. The purchase is expected to close in the second half of 2013. (previous) Comment! [M&A]
Monday, April 8, 2:00 AM General Electric (GE) is reportedly closing in on a deal to acquire Lufkin Industries (LUFK), a provider of pumps and other equipment to the oil and gas industry. There's no word on price, although Lufkin has a market cap of $2.15B. While the company's shares are sure to attract attention, also on watch are those of rival Weatherford International (WFT). Comment! [M&A, Top Stories]
Thursday, February 14, 2:22 PM Lufkin Industries (LUFK +6.3%) shrugs off weak Q1 guidance after its Q4 easily beats across the board. Total revenue rose 27% Y/Y, bouyed by a record year-end backlog of $324M, up 19% year over year. Q1 looks challenging however, as the company faces a back-loaded FY. For the current quarter, it's looking for an EPS of $0.40 - 0.50, versus Street estimates of $0.80. Sales are expected to be around $295M - 305M, below the $330M consensus estimate. Comment! [Earnings, On the Move]
Thursday, February 14, 9:33 AM Lufkin Industries (LUFK) declares $0.125/share quarterly dividend, in line with previous. Forward yield 0.83%. For shareholders of record Mar. 01. Payable Mar. 08. Ex-div date Feb. 27. (PR) Comment! [Dividends]
Thursday, February 14, 6:12 AM Lufkin Industries (LUFK): Q4 EPS of $0.87 beats by $0.03. Revenue of $355.7M (+27% Y/Y) beats by $11.43M. (PR) Comment! [Dividends]
Thursday, February 14, 12:05 AM Notable earnings before Thursday’s open: ABB, ABX, ALXN, ANR, APA, BGCP, BWA, CAB, CRIS, CVE, DISCA, DTV, DVA, DWRE, ECA, GELG, GM, GNC, GNRC, INCY, JAH, LNT, LUFK, MFA, NGLS, NRF, O, OAK, PDS, PEP, PPL, REGN, SHPG, STRA, TAP, UTHR, VMC, WM, ZIP Comment! [Earnings]
Wednesday, February 13, 5:30 PM Notable earnings before Thursday’s open: ABB, ABX, ALXN, ANR, APA, BGCP, BWA, CAB, CRIS, CVE, DISCA, DTV, DVA, DWRE, ECA, GELG, GM, GNC, GNRC, INCY, JAH, LNT, LUFK, MFA, NGLS, NRF, O, OAK, PDS, PEP, PPL, REGN, SHPG, STRA, TAP, UTHR, VMC, WM, ZIP Comment! [Earnings]
Monday, February 11, 11:47 AM Dahlman Rose downgrades to Hold nine oilfield service companies with strong North American exposure, including Baker Hughes (BHI). The firm cites the sector’s sluggish outlook for exploration and production spending and recent outperformance of the North American-oriented stocks. Of the group - including ESV, BAS, LUFK and NR - BHI has the most exposure to North America, the firm adds. Comment! [Energy, Quick Ideas]