Mattern Capital Management LLC Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

by · The Markets Daily

Mattern Capital Management LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 0.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,953 shares of the home improvement retailer’s stock after selling 95 shares during the quarter. Lowe’s Companies accounts for about 1.8% of Mattern Capital Management LLC’s holdings, making the stock its 3rd largest position. Mattern Capital Management LLC’s holdings in Lowe’s Companies were worth $14,342,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LOW. Crew Capital Management Ltd. boosted its stake in shares of Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares during the last quarter. Clean Yield Group boosted its position in Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the last quarter. Drive Wealth Management LLC grew its stake in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 41 shares during the period. Chapin Davis Inc. increased its position in shares of Lowe’s Companies by 1.3% during the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after purchasing an additional 41 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. boosted its holdings in shares of Lowe’s Companies by 0.3% in the third quarter. McKinley Carter Wealth Services Inc. now owns 12,846 shares of the home improvement retailer’s stock worth $3,479,000 after buying an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on LOW. JPMorgan Chase & Co. reduced their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Melius Research assumed coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada cut their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Finally, Truist Financial raised their price objective on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.60.

View Our Latest Stock Analysis on LOW

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Trading Down 1.4 %

Shares of Lowe’s Companies stock opened at $267.64 on Friday. The firm has a market cap of $151.83 billion, a PE ratio of 22.19, a PEG ratio of 2.24 and a beta of 1.10. The stock has a 50 day moving average of $260.81 and a 200 day moving average of $239.84. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 EPS. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Lowe’s Companies Company Profile

(Free Report)

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.

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