Lizanne Bruce Sells 1,300 Shares of Louisiana-Pacific (NYSE:LPX) Stock

Louisiana-Pacific Corporation (NYSE:LPX) Director Lizanne Bruce sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $78.59, for a total transaction of $102,167.00. Following the completion of the transaction, the director directly owned 17,160 shares of the company’s stock, valued at $1,348,604.40. This represents a 7.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Louisiana-Pacific Trading Down 2.1%

Shares of NYSE LPX opened at $75.38 on Friday. The company has a market cap of $5.26 billion, a PE ratio of 36.07 and a beta of 1.78. 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 Corporation has a 1-year low of $73.42 and a 1-year high of $102.86. The company has a 50-day moving average of $87.45 and a two-hundred day moving average of $87.00.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Tuesday, February 17th. The building manufacturing company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.09. Louisiana-Pacific had a return on equity of 10.72% and a net margin of 5.39%.The company had revenue of $567.00 million for the quarter, compared to analysts’ expectations of $589.96 million. During the same period last year, the firm posted $1.03 earnings per share. Louisiana-Pacific’s revenue was down 16.7% compared to the same quarter last year. As a group, equities analysts expect that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

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

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of LPX. Millennium Management LLC raised its holdings in Louisiana-Pacific by 128.6% in the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after buying an additional 99,455 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Louisiana-Pacific in the 1st quarter valued at about $273,000. Goldman Sachs Group Inc. lifted its holdings in Louisiana-Pacific by 7.2% during the 1st 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 during the period. Empowered Funds LLC boosted its holdings in shares of Louisiana-Pacific by 207.1% in the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after purchasing an additional 19,029 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Louisiana-Pacific by 15.2% during 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 valued at $20,747,000 after acquiring an additional 29,846 shares during the period. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LPX. Zacks Research lowered Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Truist Financial increased their price target on Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. DA Davidson decreased their target price on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Oppenheimer restated an “outperform” rating on shares of Louisiana-Pacific in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price target on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, 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.