Truist Financial Corp Acquires 8,177 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Truist Financial Corp raised its position in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 8.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 109,742 shares of the building manufacturing company's stock after acquiring an additional 8,177 shares during the period. Truist Financial Corp owned about 0.15% of Louisiana-Pacific worth $9,035,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Eminence Capital LP raised its stake in Louisiana-Pacific by 31.4% in the 4th quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company's stock valued at $145,697,000 after acquiring an additional 491,641 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Louisiana-Pacific by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,740,249 shares of the building manufacturing company's stock worth $146,026,000 after purchasing an additional 177,132 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Louisiana-Pacific by 92.4% in the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company's stock worth $103,363,000 after acquiring an additional 602,803 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Louisiana-Pacific in the second quarter worth approximately $91,053,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Louisiana-Pacific by 6.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 925,514 shares of the building manufacturing company's stock worth $77,660,000 after acquiring an additional 57,966 shares during the period. Institutional investors own 94.73% of the company's stock.

Insider Activity

In related news, CEO William Bradley Southern sold 32,600 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the sale, the chief executive officer now directly owns 596,886 shares in the company, valued at approximately $55,773,027.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the sale, the director now directly owns 29,008 shares in the company, valued at $2,787,668.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Bradley Southern sold 32,600 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the sale, the chief executive officer now owns 596,886 shares in the company, valued at approximately $55,773,027.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock worth $3,368,774 over the last ninety days. Corporate insiders own 1.26% of the company's stock.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded down $0.81 during trading hours on Friday, hitting $105.77. The company's stock had a trading volume of 448,396 shares, compared to its average volume of 858,372. The business has a 50 day moving average price of $98.23 and a two-hundred day moving average price of $89.14. Louisiana-Pacific Co. has a 12-month low of $49.47 and a 12-month high of $109.73. The company has a market cap of $7.58 billion, a PE ratio of 29.06, a PEG ratio of 4.95 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.95 and a current ratio of 3.38.

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

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. Louisiana-Pacific's payout ratio is 28.57%.

Analysts Set New Price Targets

Several brokerages have issued reports on LPX. Truist Financial reissued a "buy" rating and issued a $105.00 price target (up from $101.00) on shares of Louisiana-Pacific in a research note on Thursday, August 8th. Royal Bank of Canada increased their price objective on Louisiana-Pacific from $101.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. StockNews.com cut Louisiana-Pacific from a "buy" rating to a "hold" rating in a report on Friday, September 13th. BMO Capital Markets cut Louisiana-Pacific from an "outperform" rating to a "market perform" rating and set a $99.00 price target on the stock. in a report on Thursday, August 8th. Finally, DA Davidson raised their price target on Louisiana-Pacific from $98.00 to $110.00 and gave the company a "buy" rating in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $92.67.

Louisiana-Pacific Company 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.