Louisiana-Pacific Corporation $LPX Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,413,899 shares of the building manufacturing company’s stock after selling 362,744 shares during the period. Vanguard Group Inc. owned 9.21% of Louisiana-Pacific worth $569,811,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its position in shares of Louisiana-Pacific by 128.6% during the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after purchasing an additional 99,455 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Louisiana-Pacific during the 1st quarter worth $273,000. Goldman Sachs Group Inc. grew its holdings in shares of Louisiana-Pacific by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock worth $25,274,000 after buying an additional 18,413 shares in the last quarter. Empowered Funds LLC raised its position in shares of Louisiana-Pacific by 207.1% in the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock valued at $2,596,000 after buying an additional 19,029 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Louisiana-Pacific by 15.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock worth $20,747,000 after buying an additional 29,846 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insiders Place Their Bets

In other news, Director F Nicholas Grasberger III acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average price of $85.49 per share, for a total transaction of $1,709,800.00. Following the acquisition, the director owned 38,954 shares of the company’s stock, valued at $3,330,177.46. This represents a 105.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Bradley Southern sold 14,166 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $89.29, for a total value of $1,264,882.14. Following the transaction, the chief executive officer owned 461,719 shares of the company’s stock, valued at $41,226,889.51. This trade represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 155,842 shares of company stock valued at $13,912,978 over the last ninety days. Insiders own 1.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on LPX shares. DA Davidson decreased their target price on shares of Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating on the stock in a research note on Monday. TD Securities reduced their price objective on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Zacks Research raised Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Truist Financial raised their target price on Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Louisiana-Pacific in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Louisiana-Pacific currently has an average rating of “Moderate Buy” and a consensus target price of $105.83.

Louisiana-Pacific Stock Up 4.8%

Shares of NYSE:LPX opened at $85.29 on Wednesday. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 40.81 and a beta of 1.81. Louisiana-Pacific Corporation has a 12-month low of $73.42 and a 12-month high of $103.25. The business has a 50-day moving average price of $87.92 and a 200 day moving average price of $88.25. The company has a current ratio of 2.78, a quick ratio of 1.53 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. Louisiana-Pacific had a net margin of 5.39% and a return on equity of 10.72%. The business had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $589.96 million. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. Sell-side analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.30 per share. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is 53.59%.

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.