Kimelman & Baird LLC Takes $37,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 170 shares of the home improvement retailer’s stock, valued at approximately $37,000.

A number of other large investors have also bought and sold shares of LOW. Regal Investment Advisors LLC boosted its holdings in shares of Lowe’s Companies by 5.1% in the second quarter. Regal Investment Advisors LLC now owns 8,653 shares of the home improvement retailer’s stock valued at $1,908,000 after buying an additional 420 shares during the period. Quarry LP lifted its position in Lowe’s Companies by 248.0% in the 2nd quarter. Quarry LP now owns 884 shares of the home improvement retailer’s stock valued at $195,000 after acquiring an additional 630 shares in the last quarter. Second Line Capital LLC lifted its position in Lowe’s Companies by 43.4% in the 2nd quarter. Second Line Capital LLC now owns 4,814 shares of the home improvement retailer’s stock valued at $1,061,000 after acquiring an additional 1,458 shares in the last quarter. Wallace Advisory Group LLC boosted its stake in Lowe’s Companies by 7.4% in the 2nd quarter. Wallace Advisory Group LLC now owns 4,026 shares of the home improvement retailer’s stock worth $888,000 after purchasing an additional 276 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new position in Lowe’s Companies during the 2nd quarter worth about $2,252,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Trading Up 1.4 %

Shares of NYSE LOW opened at $270.85 on Tuesday. The stock has a 50-day moving average price of $246.83 and a two-hundred day moving average price of $236.29. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $271.27. The company has a market cap of $154.34 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $4.56 earnings per share. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America cut their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Wells Fargo & Company decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Melius Research started coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $260.00.

Lowe’s Companies Company Profile

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