Banco de Sabadell S.A purchased a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,478 shares of the construction company’s stock, valued at approximately $392,000.
A number of other large investors also recently added to or reduced their stakes in LPX. Millennium Management LLC grew its holdings in Louisiana-Pacific by 78.2% during the first quarter. Millennium Management LLC now owns 5,880,551 shares of the construction company’s stock valued at $169,183,000 after purchasing an additional 2,581,310 shares during the period. BlackRock Inc. grew its holdings in Louisiana-Pacific by 6.5% during the second quarter. BlackRock Inc. now owns 18,429,014 shares of the construction company’s stock valued at $501,638,000 after purchasing an additional 1,122,642 shares during the period. Acadian Asset Management LLC grew its holdings in Louisiana-Pacific by 27.8% during the second quarter. Acadian Asset Management LLC now owns 2,860,671 shares of the construction company’s stock valued at $77,868,000 after purchasing an additional 623,093 shares during the period. Victory Capital Management Inc. bought a new stake in Louisiana-Pacific during the first quarter valued at about $16,624,000. Finally, Wells Fargo & Company MN grew its holdings in Louisiana-Pacific by 51.6% during the second quarter. Wells Fargo & Company MN now owns 1,379,325 shares of the construction company’s stock valued at $37,546,000 after purchasing an additional 469,279 shares during the period. 92.26% of the stock is owned by institutional investors and hedge funds.
In other news, Director Lizanne C. Gottung sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $29.25, for a total value of $204,750.00. Following the transaction, the director now directly owns 18,115 shares in the company, valued at $529,863.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Bradley Southern sold 12,042 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $31.00, for a total value of $373,302.00. Following the completion of the transaction, the chief executive officer now owns 196,518 shares in the company, valued at $6,092,058. The disclosure for this sale can be found here. Insiders sold 38,287 shares of company stock worth $1,180,736 over the last 90 days. Company insiders own 1.48% of the company’s stock.
Several analysts have issued reports on LPX shares. Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, July 16th. Zacks Investment Research raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, July 9th. Finally, ValuEngine raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Louisiana-Pacific currently has an average rating of “Hold” and a consensus price target of $33.25.
Shares of Louisiana-Pacific stock opened at $30.93 on Friday. Louisiana-Pacific Co. has a 52 week low of $25.57 and a 52 week high of $32.16. The stock has a market capitalization of $4.53 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 2.05 and a beta of 1.47. The company has a current ratio of 5.68, a quick ratio of 4.57 and a debt-to-equity ratio of 0.20.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. The business had revenue of $810.80 million for the quarter, compared to the consensus estimate of $788.55 million. equities research analysts anticipate that Louisiana-Pacific Co. will post 3.1 EPS for the current fiscal year.
Louisiana-Pacific declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 7th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.52 annualized dividend and a dividend yield of 1.68%. Louisiana-Pacific’s payout ratio is 22.32%.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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