Form 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL
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1. Name and Address of Reporting Person* Smith, Douglas V.	2. Issuer Name and Ticker or Trading Symbol Lufkin Industries, Inc.   (LUFK)		6. Relationship of Reporting Person(s) to Issuer (Check all applicable)       _X_ Director                            ___ 10% Owner _X_ Officer (give title below)   ___ Other (specify below) Chief Executive Officer
(Last)             (First)            (Middle) P.O. Box 849	3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)	4. Statement for Month/Day/Year 02/13/2003
(Street) Lufkin, TX 75902-0849		5. If Amendment, Date of Original (Month/Day/Year)	7. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person
(City)             (State)             (Zip)	Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transactions (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/24/2002		M		3000	A	19.000	16000	D
Common Stock	04/24/2002	mm//yyyy	M		16000	A	18.125	32000	D
Common Stock	04/24/2002		M		20000	A	21.625	52000	D
Common Stock	04/24/2002		S		39000	D	28.7262	13000	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instructions 4(b)(v).
	Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.	(Over) SEC 1474 (9-02)

FORM 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr.3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/ Day/Year)

3A. Deemed Execution Date, if any (Month/ Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr.3,4 and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option

22.575

02/27/2002

A

45404

02/27/2002 1

02/26/2012

Common Stock

45404

0

282273

D

Stock Option

19.00

04/24/2002

M

3000

05/15/1995

05/14/2005

Common Stock

3000

0

279273

D

Stock Option

18.125

04/24/2002

M

16000

02/20/1996

02/19/2006

Common Stock

16000

0

263273

D

Stock Option

21.625

04/24/2002

M

20000

02/20/1997

02/19/2007

Common Stock

20000

0

243273

D

Stock Option

22.3

02/11/2003

A

45964

02/11/2003 2

02/10/2013

Common Stock

45964

0

289237

D

Explanation of Responses:

1. Vesting Period:
1/3 2/27/02
1/3 2/27/03
1/3 2/27/04

2. Vesting Period:
1/3 2/11/03
1/3 2/11/04
1/3 2/11/05

**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	/s/ Douglas V. Smith **Signature of Reporting Person	02/13/2003  Date
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
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