Bank OZK Sells 614 Shares of Lowe’s Companies, Inc. (LOW)
Bank OZK lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,329 shares of the home improvement retailer’s stock after selling 614 shares during the period. Bank OZK’s holdings in Lowe’s Companies were worth $1,071,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in LOW. Fisher Asset Management LLC grew its holdings in Lowe’s Companies by 5.3% during the second quarter. Fisher Asset Management LLC now owns 34,263 shares of the home improvement retailer’s stock worth $3,275,000 after acquiring an additional 1,733 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Lowe’s Companies by 4.2% during the second quarter. Xact Kapitalforvaltning AB now owns 155,707 shares of the home improvement retailer’s stock worth $14,881,000 after acquiring an additional 6,284 shares during the period. First Citizens Bank & Trust Co. acquired a new position in Lowe’s Companies during the second quarter worth $373,000. Bremer Trust National Association acquired a new position in Lowe’s Companies during the second quarter worth $228,000. Finally, First National Bank of Omaha grew its holdings in Lowe’s Companies by 55.1% during the second quarter. First National Bank of Omaha now owns 7,450 shares of the home improvement retailer’s stock worth $712,000 after acquiring an additional 2,647 shares during the period. 74.59% of the stock is currently owned by institutional investors and hedge funds.
LOW opened at $96.82 on Friday. 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 $81.31 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.35 and a beta of 1.52. Lowe’s Companies, Inc. has a one year low of $77.14 and a one year high of $117.70.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.98%. Lowe’s Companies’s payout ratio is 43.74%.
In other news, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total value of $1,803,388.35. Following the sale, the chief financial officer now directly owns 63,099 shares in the company, valued at $7,231,776.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa W. Wardell acquired 273 shares of Lowe’s Companies stock in a transaction dated Friday, August 24th. The stock was bought at an average price of $107.72 per share, for a total transaction of $29,407.56. Following the completion of the transaction, the director now directly owns 273 shares of the company’s stock, valued at $29,407.56. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by insiders.
LOW has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Lowe’s Companies in a report on Tuesday, August 21st. They set a “buy” rating and a $118.00 price objective on the stock. SunTrust Banks raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday, September 28th. Morgan Stanley upped their price objective on Lowe’s Companies from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. Robert W. Baird reaffirmed an “outperform” rating and set a $130.00 price objective (up previously from $120.00) on shares of Lowe’s Companies in a report on Monday, September 17th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Lowe’s Companies in a report on Thursday, September 13th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $112.41.
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. 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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