Intech Investment Management LLC lowered its stake in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) by 38.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,889 shares of the building manufacturing company’s stock after selling 14,231 shares during the quarter. Intech Investment Management LLC’s holdings in Louisiana-Pacific were worth $1,849,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Boston Partners acquired a new stake in shares of Louisiana-Pacific in the third quarter valued at $100,770,000. Victory Capital Management Inc. lifted its stake in Louisiana-Pacific by 674.8% during the 3rd quarter. Victory Capital Management Inc. now owns 698,646 shares of the building manufacturing company’s stock worth $62,068,000 after acquiring an additional 608,480 shares in the last quarter. Fernbridge Capital Management LP boosted its holdings in Louisiana-Pacific by 284.5% during the 3rd quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company’s stock valued at $72,916,000 after acquiring an additional 607,319 shares during the period. Parsifal Capital Management LP acquired a new position in Louisiana-Pacific in the 3rd quarter valued at about $46,161,000. Finally, Thrivent Financial for Lutherans grew its position in Louisiana-Pacific by 2,547.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 385,416 shares of the building manufacturing company’s stock valued at $31,126,000 after acquiring an additional 370,856 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.
Insider Buying and Selling
In other Louisiana-Pacific news, Director Lizanne M. Bruce sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $78.59, for a total transaction of $102,167.00. Following the sale, the director owned 17,160 shares of the company’s stock, valued at approximately $1,348,604.40. This trade represents a 7.04% 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 this link. 0.65% of the stock is owned by corporate insiders.
Louisiana-Pacific Stock Down 3.6%
Louisiana-Pacific (NYSE:LPX – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.24. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business had revenue of $574.00 million for the quarter, compared to the consensus estimate of $569.99 million. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. On average, analysts forecast that Louisiana-Pacific Corporation will post 2 earnings per share for the current fiscal year.
Louisiana-Pacific Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio is currently 101.69%.
Analyst Upgrades and Downgrades
LPX has been the topic of several research reports. Barclays reduced their price target on shares of Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. DA Davidson restated a “buy” rating and issued a $114.00 price objective on shares of Louisiana-Pacific in a report on Tuesday, May 5th. Zacks Research upgraded shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Oppenheimer decreased their price target on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.25.
Read Our Latest Stock Report on Louisiana-Pacific
About Louisiana-Pacific
Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.
Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.
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