Gotham Asset Management LLC Has $27.25 Million Stake in Louisiana-Pacific Corporation $LPX

Gotham Asset Management LLC lifted its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 129.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 306,698 shares of the building manufacturing company’s stock after purchasing an additional 172,838 shares during the quarter. Gotham Asset Management LLC’s holdings in Louisiana-Pacific were worth $27,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Elwood Capital Partners LP bought a new position in Louisiana-Pacific during the third quarter worth $3,554,000. Eminence Capital LP raised its position in shares of Louisiana-Pacific by 7.9% in the third quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock valued at $276,822,000 after purchasing an additional 228,521 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Louisiana-Pacific in the third quarter valued at about $250,000. California Public Employees Retirement System lifted its stake in shares of Louisiana-Pacific by 0.6% during the 3rd quarter. California Public Employees Retirement System now owns 127,383 shares of the building manufacturing company’s stock worth $11,317,000 after buying an additional 821 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Louisiana-Pacific by 30.7% during the 3rd quarter. Bank of America Corp DE now owns 209,369 shares of the building manufacturing company’s stock worth $18,600,000 after buying an additional 49,122 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lizanne M. Bruce sold 1,300 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 $1,348,604.40. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director F Nicholas Grasberger III acquired 20,000 shares of the stock in a transaction on Thursday, February 19th. The shares were bought at an average price of $85.49 per share, for a total transaction of $1,709,800.00. Following the purchase, the director owned 38,954 shares in the company, valued at approximately $3,330,177.46. This trade represents a 105.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 113,310 shares of company stock valued at $10,235,781 over the last 90 days. 1.42% of the stock is owned by corporate insiders.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $75.74 on Tuesday. Louisiana-Pacific Corporation has a 52 week low of $73.42 and a 52 week high of $102.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.53 and a current ratio of 2.78. The firm’s 50-day simple moving average is $87.17 and its 200 day simple moving average is $86.55. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 36.24 and a beta of 1.78.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share (EPS) 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 firm had revenue of $567.00 million during the quarter, compared to the consensus estimate of $589.96 million. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, sell-side analysts predict that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, February 27th. Louisiana-Pacific’s dividend payout ratio is presently 53.59%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LPX shares. Truist Financial upped their price target on shares of Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Louisiana-Pacific in a report on Monday, December 29th. Barclays upped their target price on Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Oppenheimer reiterated an “outperform” rating on shares of Louisiana-Pacific in a research note on Tuesday, March 3rd. Finally, DA Davidson dropped their price target on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.83.

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.