Louisiana-Pacific Corporation $LPX Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 17,505 shares of the building manufacturing company’s stock after selling 281 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Louisiana-Pacific were worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Louisiana-Pacific by 12.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,482 shares of the building manufacturing company’s stock worth $320,000 after buying an additional 396 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Louisiana-Pacific by 18.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 136,939 shares of the building manufacturing company’s stock valued at $12,486,000 after acquiring an additional 21,462 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Louisiana-Pacific by 67.2% during the 1st quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company’s stock valued at $111,000 after acquiring an additional 484 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Louisiana-Pacific by 15.9% during the first quarter. Envestnet Asset Management Inc. now owns 167,818 shares of the building manufacturing company’s stock worth $15,436,000 after acquiring an additional 23,032 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Louisiana-Pacific by 30.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,832 shares of the building manufacturing company’s stock valued at $615,000 after purchasing an additional 1,578 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LPX. Truist Financial dropped their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, July 11th. Zacks Research raised Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. DA Davidson reissued a “buy” rating and issued a $117.00 price target on shares of Louisiana-Pacific in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Louisiana-Pacific in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $110.57.

Insider Activity

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the sale, the director directly owned 29,728 shares in the company, valued at approximately $3,002,528. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Louisiana-Pacific Trading Down 1.1%

Shares of Louisiana-Pacific stock opened at $88.14 on Friday. Louisiana-Pacific Corporation has a fifty-two week low of $78.82 and a fifty-two week high of $122.87. The business’s fifty day moving average is $91.89 and its two-hundred day moving average is $90.82. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. The firm has a market cap of $6.14 billion, a PE ratio of 20.79 and a beta of 1.80.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $751.15 million. During the same period in the prior year, the firm posted $2.09 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Louisiana-Pacific’s dividend payout ratio is presently 26.42%.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.