Wedge Capital Management L L P NC Raises Stake in Louisiana-Pacific Corporation $LPX

Wedge Capital Management L L P NC increased its holdings in Louisiana-Pacific Corporation (NYSE:LPX) by 35.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 120,492 shares of the building manufacturing company’s stock after buying an additional 31,734 shares during the period. Wedge Capital Management L L P NC’s holdings in Louisiana-Pacific were worth $9,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of LPX. Handelsbanken Fonder AB lifted its stake in Louisiana-Pacific by 8.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 20,085 shares of the building manufacturing company’s stock valued at $1,580,000 after acquiring an additional 1,500 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Louisiana-Pacific by 1.6% in the second quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company’s stock worth $726,000 after acquiring an additional 147 shares during the period. GAMMA Investing LLC increased its stake in shares of Louisiana-Pacific by 30.7% in the second quarter. GAMMA Investing LLC now owns 1,486 shares of the building manufacturing company’s stock worth $117,000 after acquiring an additional 349 shares during the period. Moody National Bank Trust Division raised its holdings in shares of Louisiana-Pacific by 59.3% during the second quarter. Moody National Bank Trust Division now owns 20,006 shares of the building manufacturing company’s stock worth $1,574,000 after purchasing an additional 7,445 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Louisiana-Pacific by 27.3% during the second quarter. Versant Capital Management Inc now owns 630 shares of the building manufacturing company’s stock worth $50,000 after purchasing an additional 135 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $73.62 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. The company has a 50 day moving average price of $75.19 and a 200-day moving average price of $77.21. Louisiana-Pacific Corporation has a 1-year low of $66.12 and a 1-year high of $102.86. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 93.19, a price-to-earnings-growth ratio of 10.69 and a beta of 1.62.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The firm had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period last year, the company posted $0.99 earnings per share. Equities research analysts forecast that Louisiana-Pacific Corporation will post 1.17 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. Louisiana-Pacific’s dividend payout ratio is presently 151.90%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LPX. DA Davidson lowered their price target on shares of Louisiana-Pacific from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. The Goldman Sachs Group lifted their price objective on Louisiana-Pacific from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Thursday, August 6th. Jefferies Financial Group started coverage on Louisiana-Pacific in a report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price objective for the company. TD upped their target price on Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets upgraded Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 target price on the stock in a research note on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

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.