Wedge Capital Management L L P NC bought a new position in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 75,150 shares of the building manufacturing company's stock, valued at approximately $8,076,000. Wedge Capital Management L L P NC owned 0.11% of Louisiana-Pacific as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in Louisiana-Pacific in the 1st quarter valued at $25,000. Whittier Trust Co. bought a new stake in shares of Louisiana-Pacific during the 1st quarter valued at about $31,000. Bessemer Group Inc. lifted its position in Louisiana-Pacific by 258.5% in the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company's stock worth $37,000 after buying an additional 318 shares during the last quarter. GAMMA Investing LLC lifted its position in Louisiana-Pacific by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company's stock worth $40,000 after buying an additional 177 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Louisiana-Pacific in the 2nd quarter worth approximately $53,000. 94.73% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
LPX has been the topic of a number of analyst reports. Bank of America lifted their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an "underperform" rating in a research note on Thursday, September 12th. The Goldman Sachs Group boosted their target price on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a "sell" rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their target price on Louisiana-Pacific from $101.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Truist Financial upped their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday. Finally, StockNews.com cut Louisiana-Pacific from a "buy" rating to a "hold" rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $93.56.
Read Our Latest Research Report on Louisiana-Pacific
Insider Activity at Louisiana-Pacific
In related news, Director Ozey K. Horton, Jr. sold 800 shares of the 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 completion of the transaction, the director now directly owns 29,008 shares of the company's stock, valued at approximately $2,787,668.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Lizanne C. Gottung sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the sale, the director now directly owns 21,005 shares of the company's stock, valued at $2,064,791.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ozey K. Horton, Jr. sold 800 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 29,008 shares of the company's stock, valued at $2,787,668.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,900 shares of company stock valued at $3,368,774. Insiders own 1.26% of the company's stock.
Louisiana-Pacific Stock Performance
LPX traded down $0.44 during midday trading on Tuesday, reaching $103.45. The company had a trading volume of 1,465,090 shares, compared to its average volume of 858,665. The company has a quick ratio of 1.95, a current ratio of 3.38 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Co. has a 1 year low of $49.47 and a 1 year high of $109.73. The business has a 50-day moving average of $99.37 and a two-hundred day moving average of $90.17. The company has a market cap of $7.42 billion, a P/E ratio of 28.54, a P/E/G ratio of 4.96 and a beta of 1.88.
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 (EPS) for the quarter, topping 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 firm had revenue of $814.00 million during the quarter, compared to analysts' expectations of $797.26 million. During the same quarter last year, the business posted $0.55 earnings per share. The firm's revenue was up 33.2% on a year-over-year basis. As a group, equities research analysts predict that Louisiana-Pacific Co. will post 5.04 earnings per share for the current fiscal year.
Louisiana-Pacific Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 1.01%. The ex-dividend date was Tuesday, August 20th. Louisiana-Pacific's dividend payout ratio is currently 28.57%.
Louisiana-Pacific Company Profile
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Free Report)
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.
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