Olstein Capital Management L.P. Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Olstein Capital Management L.P. increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,000 shares of the home improvement retailer’s stock after buying an additional 6,000 shares during the period. Olstein Capital Management L.P.’s holdings in Lowe’s Companies were worth $5,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Lowe’s Companies by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock valued at $952,946,000 after buying an additional 728,740 shares in the last quarter. Boston Partners increased its position in shares of Lowe’s Companies by 20.3% in the first quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock valued at $536,420,000 after buying an additional 826,414 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Lowe’s Companies by 14.9% in the first quarter. Artisan Partners Limited Partnership now owns 3,735,627 shares of the home improvement retailer’s stock valued at $408,939,000 after buying an additional 483,822 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Lowe’s Companies by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 3,349,230 shares of the home improvement retailer’s stock valued at $366,640,000 after buying an additional 19,829 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Lowe’s Companies by 2.1% in the first quarter. Swiss National Bank now owns 2,690,548 shares of the home improvement retailer’s stock valued at $294,534,000 after buying an additional 54,100 shares in the last quarter. Institutional investors own 76.67% of the company’s stock.

In other news, insider Marvin R. Ellison bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average price of $95.05 per share, with a total value of $950,500.00. Following the purchase, the insider now owns 80,090 shares in the company, valued at $7,612,554.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Frieson bought 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The shares were purchased at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the purchase, the executive vice president now owns 10,980 shares in the company, valued at approximately $1,083,616.20. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 12,280 shares of company stock worth $1,174,566. Corporate insiders own 0.07% of the company’s stock.

Shares of Lowe’s Companies stock traded down $2.27 during trading hours on Monday, hitting $96.28. The company’s stock had a trading volume of 222,314 shares, compared to its average volume of 4,596,589. Lowe’s Companies, Inc. has a twelve month low of $84.75 and a twelve month high of $118.23. The company’s fifty day simple moving average is $102.39. The company has a market cap of $78.66 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.31 and a beta of 1.36. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.24 and a current ratio of 1.09.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The business had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.65 billion. During the same period last year, the company earned $1.19 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts predict that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, July 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.48. Lowe’s Companies’s dividend payout ratio is 42.80%.

A number of analysts have recently commented on LOW shares. Telsey Advisory Group restated an “outperform” rating and issued a $116.00 price objective (down from $126.00) on shares of Lowe’s Companies in a research report on Thursday, May 23rd. Wedbush dropped their price target on Lowe’s Companies from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. Gabelli reiterated a “buy” rating on shares of Lowe’s Companies in a research report on Thursday, May 23rd. Barclays boosted their price target on Lowe’s Companies from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Finally, Morgan Stanley set a $123.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $112.88.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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