Trade Report: Today, Smith Salley & Associates reached $1,168,000 position of Lowe’s Cos. (LOW)

Today, Smith Salley & Associates reached $1,168,000 position  of Lowe’s Cos. (LOW)

Smith Salley & Associates reduced its position in Lowe’s Cos. (NYSE:LOW) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 14,748 shares of the home improvement retailer’s stock after selling 227 shares during the period. Smith Salley & Associates’ holdings in Lowe’s Cos. were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LOW. 1ST Source Bank raised its position in shares of Lowe’s Cos. by 4.5% in the second quarter. 1ST Source Bank now owns 12,005 shares of the home improvement retailer’s stock worth $951,000 after buying an additional 519 shares during the period. Kanawha Capital Management LLC raised its position in shares of Lowe’s Cos. by 1.9% in the second quarter. Kanawha Capital Management LLC now owns 229,205 shares of the home improvement retailer’s stock worth $18,146,000 after buying an additional 4,309 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Lowe’s Cos. by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 148,584 shares of the home improvement retailer’s stock worth $11,763,000 after buying an additional 1,256 shares during the period. Nordea Investment Management AB raised its position in shares of Lowe’s Cos. by 18.5% in the second quarter. Nordea Investment Management AB now owns 648,162 shares of the home improvement retailer’s stock worth $51,315,000 after buying an additional 101,146 shares during the period. Finally, ICM Asset Management Inc. WA raised its position in shares of Lowe’s Cos. by 150.0% in the second quarter. ICM Asset Management Inc. WA now owns 76,800 shares of the home improvement retailer’s stock worth $6,080,000 after buying an additional 46,080 shares during the period. 75.45% of the stock is owned by institutional investors and hedge funds.

Lowe’s Cos. (NYSE:LOW) traded down 0.04% during mid-day trading on Tuesday, reaching $69.95. The company had a trading volume of 2,647,140 shares. The stock has a 50 day moving average of $72.59 and a 200 day moving average of $77.08. Lowe’s Cos. has a 52 week low of $62.62 and a 52 week high of $83.65. The stock has a market capitalization of $61.18 billion, a price-to-earnings ratio of 22.67 and a beta of 1.14.

Lowe’s Cos. (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.04. The business earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. Analysts anticipate that Lowe’s Cos. will post $4.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, October 17th. Lowe’s Cos.’s dividend payout ratio (DPR) is presently 45.16%.

Several equities research analysts have recently commented on the stock. Goldman Sachs Group Inc. lowered shares of Lowe’s Cos. from a “conviction-buy” rating to a “buy” rating and reduced their price target for the company from $95.00 to $86.00 in a research report on Monday. Cleveland Research lowered shares of Lowe’s Cos. from a “buy” rating to a “neutral” rating in a research report on Thursday, October 6th. Peel Hunt reaffirmed a “buy” rating and set a $90.00 price target (up previously from $85.00) on shares of Lowe’s Cos. in a research report on Friday, September 23rd. Credit Suisse Group AG set a $80.00 price target on shares of Lowe’s Cos. and gave the company a “buy” rating in a research report on Friday, September 23rd. Finally, Robert W. Baird set a $88.00 price target on shares of Lowe’s Cos. and gave the company a “buy” rating in a research report on Monday, September 19th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $85.85.

About Lowe’s Cos.

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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