Louisiana-Pacific Co. (NYSE:LPX) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. reduced its position in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 29.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,067 shares of the building manufacturing company's stock after selling 40,677 shares during the period. Coronation Fund Managers Ltd. owned about 0.14% of Louisiana-Pacific worth $8,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. LifeSteps Financial Inc. acquired a new stake in Louisiana-Pacific during the first quarter worth approximately $25,000. Fidelis Capital Partners LLC bought a new position in Louisiana-Pacific during the 1st quarter worth $25,000. Whittier Trust Co. acquired a new stake in shares of Louisiana-Pacific in the 1st quarter valued at about $31,000. Bessemer Group Inc. grew its stake in shares of Louisiana-Pacific by 258.5% in the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company's stock valued at $37,000 after buying an additional 318 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Louisiana-Pacific by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company's stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LPX shares. Truist Financial reaffirmed a "buy" rating and issued a $105.00 price target (up previously from $101.00) on shares of Louisiana-Pacific in a report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the stock a "sell" rating in a report on Thursday, August 8th. StockNews.com lowered shares of Louisiana-Pacific from a "buy" rating to a "hold" rating in a report on Friday, September 13th. Royal Bank of Canada raised their price objective on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Finally, BMO Capital Markets lowered shares of Louisiana-Pacific from an "outperform" rating to a "market perform" rating and set a $99.00 price objective for the company. in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $92.67.

Louisiana-Pacific Stock Down 0.4 %

NYSE LPX traded down $0.44 during mid-day trading on Wednesday, reaching $107.96. The stock had a trading volume of 394,648 shares, compared to its average volume of 862,271. Louisiana-Pacific Co. has a 1 year low of $49.47 and a 1 year high of $109.73. The stock has a market cap of $7.74 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 4.95 and a beta of 1.88. The company has a fifty day moving average price of $97.49 and a 200 day moving average price of $88.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.23. The company had revenue of $814.00 million for the quarter, compared to analysts' expectations of $797.26 million. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. Louisiana-Pacific's revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS. On average, research analysts expect that Louisiana-Pacific Co. will post 5.04 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Tuesday, August 20th. Louisiana-Pacific's dividend payout ratio is 28.57%.

Insider Activity at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the transaction, the director now directly owns 29,008 shares in the company, valued at approximately $2,787,668.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the transaction, the director now owns 29,008 shares of the company's stock, valued at $2,787,668.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Bradley Southern sold 32,600 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the transaction, the chief executive officer now directly owns 596,886 shares of the company's stock, valued at approximately $55,773,027.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,900 shares of company stock worth $3,368,774. Insiders own 1.26% of the company's stock.

Louisiana-Pacific Profile

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.