Trexquant Investment LP Purchases New Position in Louisiana-Pacific Co. (LPX)
Trexquant Investment LP purchased a new stake in Louisiana-Pacific Co. (NYSE:LPX) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 61,275 shares of the construction company’s stock, valued at approximately $1,668,000.
A number of other institutional investors also recently added to or reduced their stakes in LPX. Millennium Management LLC grew its stake in Louisiana-Pacific by 78.2% in the 1st quarter. Millennium Management LLC now owns 5,880,551 shares of the construction company’s stock valued at $169,183,000 after acquiring an additional 2,581,310 shares during the period. Acadian Asset Management LLC grew its stake in Louisiana-Pacific by 27.8% in the 2nd quarter. Acadian Asset Management LLC now owns 2,860,671 shares of the construction company’s stock valued at $77,868,000 after acquiring an additional 623,093 shares during the period. Victory Capital Management Inc. acquired a new stake in Louisiana-Pacific in the 1st quarter valued at $16,624,000. Wells Fargo & Company MN grew its stake in Louisiana-Pacific by 51.6% in the 2nd quarter. Wells Fargo & Company MN now owns 1,379,325 shares of the construction company’s stock valued at $37,546,000 after acquiring an additional 469,279 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Louisiana-Pacific by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,518,427 shares of the construction company’s stock valued at $122,991,000 after acquiring an additional 321,522 shares during the period. 97.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LPX opened at $30.37 on Tuesday. Louisiana-Pacific Co. has a 52-week low of $23.39 and a 52-week high of $31.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.57 and a current ratio of 5.68. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.98 and a beta of 1.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 17th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, August 16th. This represents a $0.52 annualized dividend and a yield of 1.71%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 22.32%.
Louisiana-Pacific declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 7th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 3.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts recently issued reports on LPX shares. Bank of America raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, July 16th. Zacks Investment Research raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, July 9th. ValuEngine cut shares of Louisiana-Pacific from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 1st. BMO Capital Markets reaffirmed a “sell” rating and set a $27.00 target price on shares of Louisiana-Pacific in a research note on Tuesday, April 24th. Finally, DA Davidson raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $33.25.
In other news, Director Lizanne C. Gottung sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $29.25, for a total transaction of $204,750.00. Following the transaction, the director now owns 18,115 shares of the company’s stock, valued at approximately $529,863.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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