Louisiana-Pacific Co. (LPX) Stake Raised by Patten & Patten Inc. TN
Patten & Patten Inc. TN raised its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 16.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 58,850 shares of the construction company’s stock after buying an additional 8,450 shares during the quarter. Patten & Patten Inc. TN’s holdings in Louisiana-Pacific were worth $1,545,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of LPX. Public Employees Retirement System of Ohio lifted its stake in shares of Louisiana-Pacific by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,798 shares of the construction company’s stock valued at $140,000 after purchasing an additional 56 shares during the period. Flinton Capital Management LLC lifted its stake in shares of Louisiana-Pacific by 76.1% in the 2nd quarter. Flinton Capital Management LLC now owns 7,296 shares of the construction company’s stock valued at $176,000 after purchasing an additional 3,152 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of Louisiana-Pacific by 78.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,187 shares of the construction company’s stock valued at $197,000 after purchasing an additional 3,587 shares during the period. Greenwood Capital Associates LLC purchased a new position in shares of Louisiana-Pacific in the 3rd quarter valued at approximately $202,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Louisiana-Pacific in the 3rd quarter valued at approximately $255,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.
A number of research firms have recently commented on LPX. Stephens began coverage on Louisiana-Pacific in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $30.00 target price for the company. Zacks Investment Research upgraded Louisiana-Pacific from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, October 18th. Vertical Research upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Royal Bank of Canada lifted their price objective on Louisiana-Pacific and gave the company an “outperform” rating in a research note on Tuesday, September 26th. Finally, BMO Capital Markets cut Louisiana-Pacific from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $22.00 to $24.00 in a research note on Friday, September 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $29.50.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Monday, November 6th. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The company had revenue of $718.30 million for the quarter, compared to analysts’ expectations of $731.47 million. Louisiana-Pacific had a net margin of 11.72% and a return on equity of 20.27%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. equities research analysts forecast that Louisiana-Pacific Co. will post 2.21 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Louisiana-Pacific Co. (LPX) Stake Raised by Patten & Patten Inc. TN” was reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.watchlistnews.com/louisiana-pacific-co-lpx-stake-raised-by-patten-patten-inc-tn/1819361.html.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
Want to see what other hedge funds are holding LPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Louisiana-Pacific Co. (NYSE:LPX).
Receive News & Ratings for Louisiana-Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific and related companies with MarketBeat.com's FREE daily email newsletter.