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| 06:30 EDT |  | LOW |
| theflyonthewall.com: | Lowe's logistics executive sold 34,639 shares, Barron's reports | | Home-improvement companies like Lowe's (LOW) are still feeling the pinch as the housing market continue to struggle to recover. Now an insider at the company is fueling the uncertainty by trimming his stock holdings, says Barron's. Joseph Mabry, Jr., executive vice president for logistics and distribution at Lowe's, sold 34,639 shares for $749,997, or an average price of $21.65 each, on Nov. 18. After the sale he held 185,505 directly. Mabry's stock-option holdings are not included in the Lowe's proxy, and a company spokeswoman declined to provide them, but his stake remains far less than 1% of the company's outstanding shares. The Lowe's spokeswoman says the purpose of Mabry's sale was investment diversification. Lon Juricic, president of StreetInsider.com, says the sale raises a cautionary flag, in part because Mabry has never sold shares before. "Shares have rallied significantly off the bottom, and now with fears of a double-dip recession and continued issues in housing, money might be better placed elsewhere," Juricic says. "That being said, the worst is clearly behind Lowe's." Reference Link :theflyonthewall.com |
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