It is usually used for revolving joints in mechanisms and linkages; when used as a guide for the stripper plate in a die set its called a stripper bolt..
.Lag Screw, 3/8 in, 1-3/4 in, Stainless Steel, Hex Hex Drive, 5 PK Lag bolts are designed for securely fastening heavy timbers to one another, or to fasten wood to masonry or concrete.