AlphaCrest Capital Management LLC reduced its stake in Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 54.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,340 shares of the building manufacturing company’s stock after selling 18,467 shares during the period. AlphaCrest Capital Management LLC’s holdings in Louisiana-Pacific were worth $1,202,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in LPX. FMR LLC raised its stake in Louisiana-Pacific by 256.3% in the first quarter. FMR LLC now owns 459,499 shares of the building manufacturing company’s stock worth $11,203,000 after buying an additional 330,547 shares in the last quarter. Morgan Stanley raised its stake in Louisiana-Pacific by 95.4% in the second quarter. Morgan Stanley now owns 1,448,960 shares of the building manufacturing company’s stock worth $87,358,000 after buying an additional 707,350 shares in the last quarter. Raymond James & Associates raised its stake in Louisiana-Pacific by 10.9% in the third quarter. Raymond James & Associates now owns 32,546 shares of the building manufacturing company’s stock worth $1,997,000 after buying an additional 3,190 shares in the last quarter. Commerce Bank bought a new position in Louisiana-Pacific in the third quarter worth about $202,000. Finally, Boston Private Wealth LLC raised its stake in Louisiana-Pacific by 52.3% in the third quarter. Boston Private Wealth LLC now owns 5,196 shares of the building manufacturing company’s stock worth $319,000 after buying an additional 1,785 shares in the last quarter. 94.99% of the stock is owned by institutional investors.
In related news, Director Lizanne C. Gottung sold 7,635 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $75.02, for a total value of $572,777.70. Following the sale, the director now owns 31,522 shares in the company, valued at $2,364,780.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.
Louisiana-Pacific (NYSE:LPX – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The building manufacturing company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.45. Louisiana-Pacific had a net margin of 31.62% and a return on equity of 105.01%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $3.01 earnings per share. The business’s revenue for the quarter was up 31.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Louisiana-Pacific Co. will post 14.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 26th. Investors of record on Thursday, May 12th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, May 11th. Louisiana-Pacific’s dividend payout ratio is currently 5.31%.
A number of brokerages have weighed in on LPX. StockNews.com began coverage on shares of Louisiana-Pacific in a research note on Thursday, March 31st. They set a “hold” rating for the company. TD Securities raised their target price on shares of Louisiana-Pacific from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, May 4th. The Goldman Sachs Group raised shares of Louisiana-Pacific from a “sell” rating to a “neutral” rating and raised their target price for the company from $59.00 to $84.00 in a research note on Friday, January 21st. Zacks Investment Research downgraded shares of Louisiana-Pacific from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research note on Friday, April 29th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Louisiana-Pacific in a research note on Wednesday, February 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Louisiana-Pacific presently has an average rating of “Buy” and an average target price of $80.25.
Louisiana-Pacific Profile (Get Rating)
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.
- Get a free copy of the StockNews.com research report on Louisiana-Pacific (LPX)
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