Friedenthal Financial Acquires New Position in Louisiana-Pacific Co. (NYSE:LPX)

Friedenthal Financial bought a new position in Louisiana-Pacific Co. (NYSE:LPX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,603 shares of the building manufacturing company’s stock, valued at approximately $708,000.

Several other institutional investors and hedge funds have also made changes to their positions in LPX. LifeSteps Financial Inc. acquired a new position in shares of Louisiana-Pacific during the 1st quarter valued at about $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $25,000. Whittier Trust Co. purchased a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $31,000. Bessemer Group Inc. raised its position in shares of Louisiana-Pacific by 258.5% during the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after buying an additional 318 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Louisiana-Pacific by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after buying an additional 177 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Up 1.1 %

Shares of NYSE:LPX traded up $1.03 during trading on Tuesday, hitting $95.08. The company’s stock had a trading volume of 500,305 shares, compared to its average volume of 931,115. The company has a market capitalization of $6.82 billion, a PE ratio of 26.12, a P/E/G ratio of 13.92 and a beta of 1.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.75 and a current ratio of 3.32. Louisiana-Pacific Co. has a fifty-two week low of $49.47 and a fifty-two week high of $101.89. The business has a 50 day moving average price of $89.44 and a two-hundred day moving average price of $81.94.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.86 by $0.23. The firm had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $797.26 million. Louisiana-Pacific had a return on equity of 20.87% and a net margin of 9.74%. Louisiana-Pacific’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. As a group, research analysts expect that Louisiana-Pacific Co. will post 5.23 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.04 annualized dividend and a yield of 1.09%. Louisiana-Pacific’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

LPX has been the subject of several recent analyst reports. DA Davidson raised their target price on Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. The Goldman Sachs Group upped their target price on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a research report on Thursday, August 8th. Loop Capital began coverage on shares of Louisiana-Pacific in a research report on Friday, May 3rd. They set a “hold” rating and a $82.00 price target for the company. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up from $101.00) on shares of Louisiana-Pacific in a research note on Thursday, August 8th. Finally, TD Securities increased their price objective on shares of Louisiana-Pacific from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $94.88.

Insider Activity at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 3,591 shares of Louisiana-Pacific stock in a transaction on Monday, June 17th. The shares were sold at an average price of $89.18, for a total transaction of $320,245.38. Following the completion of the sale, the director now directly owns 23,501 shares of the company’s stock, valued at approximately $2,095,819.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the transaction, the director now directly owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lizanne C. Gottung sold 3,591 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $89.18, for a total transaction of $320,245.38. Following the sale, the director now directly owns 23,501 shares in the company, valued at approximately $2,095,819.18. The disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.