Investment House LLC Grows Stock Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Investment House LLC boosted its position in Louisiana-Pacific Co. (NYSE:LPX) by 5.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,769 shares of the building manufacturing company’s stock after acquiring an additional 250 shares during the period. Investment House LLC’s holdings in Louisiana-Pacific were worth $393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Global Investments purchased a new stake in Louisiana-Pacific in the 2nd quarter worth approximately $1,499,000. Riverwater Partners LLC boosted its holdings in shares of Louisiana-Pacific by 73.8% in the 2nd quarter. Riverwater Partners LLC now owns 9,773 shares of the building manufacturing company’s stock valued at $805,000 after purchasing an additional 4,151 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Louisiana-Pacific by 20.7% in the 2nd quarter. Blue Trust Inc. now owns 1,848 shares of the building manufacturing company’s stock valued at $155,000 after purchasing an additional 317 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Louisiana-Pacific by 768.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 270,341 shares of the building manufacturing company’s stock valued at $22,257,000 after purchasing an additional 239,212 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Louisiana-Pacific by 9.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,841 shares of the building manufacturing company’s stock valued at $316,000 after purchasing an additional 345 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Louisiana-Pacific

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 shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the sale, the director now owns 29,008 shares in the company, valued at approximately $2,787,668.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the transaction, the director now owns 29,008 shares in the company, valued at approximately $2,787,668.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lizanne C. Gottung sold 3,591 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 23,501 shares in the company, valued at approximately $2,095,819.18. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LPX shares. The Goldman Sachs Group lifted their price target on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their price target on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Loop Capital initiated coverage on shares of Louisiana-Pacific in a report on Friday, May 3rd. They set a “hold” rating and a $82.00 target price on the stock. Truist Financial restated a “buy” rating and set a $105.00 target price (up previously from $101.00) on shares of Louisiana-Pacific in a report on Thursday, August 8th. Finally, DA Davidson boosted their price objective on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Louisiana-Pacific has an average rating of “Hold” and a consensus target price of $94.88.

Louisiana-Pacific Stock Performance

NYSE LPX traded up $1.47 on Wednesday, hitting $93.80. The stock had a trading volume of 326,582 shares, compared to its average volume of 913,570. Louisiana-Pacific Co. has a one year low of $49.47 and a one year high of $101.89. The company has a quick ratio of 1.75, a current ratio of 3.32 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 13.92 and a beta of 1.89. The company’s 50-day moving average is $89.67 and its two-hundred day moving average is $82.88.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The company had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a net margin of 9.74% and a return on equity of 20.87%. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. On average, analysts expect that Louisiana-Pacific Co. will post 5.23 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.11%. The ex-dividend date is Tuesday, August 20th. Louisiana-Pacific’s dividend payout ratio is presently 28.57%.

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.