Hammer Asset Management LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 36,091 shares of the home improvement retailer’s stock, valued at approximately $3,449,000. Lowe’s Companies accounts for 3.0% of Hammer Asset Management LLC’s portfolio, making the stock its 9th biggest holding.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ironsides Asset Advisors LLC raised its stake in shares of Lowe’s Companies by 698.3% in the second quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock valued at $98,637,000 after purchasing an additional 7,284,000 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Lowe’s Companies by 0.8% during the first quarter. OppenheimerFunds Inc. now owns 6,093,631 shares of the home improvement retailer’s stock worth $534,715,000 after acquiring an additional 48,900 shares in the last quarter. Boston Partners raised its stake in Lowe’s Companies by 382.4% during the second quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock worth $457,230,000 after acquiring an additional 3,792,479 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Lowe’s Companies by 1.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,423,886 shares of the home improvement retailer’s stock worth $327,221,000 after acquiring an additional 61,681 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new position in Lowe’s Companies during the second quarter worth $303,908,000. 74.12% of the stock is owned by institutional investors.
LOW has been the subject of several recent analyst reports. Wells Fargo & Co reiterated a “buy” rating and set a $100.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, May 22nd. KeyCorp reiterated an “overweight” rating and set a $115.00 price objective (up from $105.00) on shares of Lowe’s Companies in a research note on Tuesday, July 24th. Royal Bank of Canada increased their price objective on Lowe’s Companies to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, August 23rd. Credit Suisse Group set a $111.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research note on Monday, May 14th. Finally, ValuEngine upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Lowe’s Companies has a consensus rating of “Buy” and an average target price of $111.41.
In other Lowe’s Companies news, Director Lisa W. Wardell bought 273 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were bought at an average price of $107.72 per share, for a total transaction of $29,407.56. Following the completion of the acquisition, the director now owns 273 shares of the company’s stock, valued at $29,407.56. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew V. Hollifield sold 12,362 shares of the stock in a transaction on Friday, June 8th. The stock was sold at an average price of $99.56, for a total value of $1,230,760.72. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.
Shares of LOW stock opened at $108.41 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.25 and a debt-to-equity ratio of 2.58. The firm has a market cap of $88.76 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 1.46 and a beta of 1.40. Lowe’s Companies, Inc. has a 52 week low of $75.36 and a 52 week high of $110.78.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping the consensus estimate of $2.02 by $0.05. The company had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 earnings per share. equities analysts predict that Lowe’s Companies, Inc. will post 5.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, October 23rd. Lowe’s Companies’s payout ratio is presently 43.74%.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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