Chesapeake Capital Corp IL Sells 6,306 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Chesapeake Capital Corp IL lessened its stake in Louisiana-Pacific Co. (NYSE:LPX) by 51.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,959 shares of the building manufacturing company’s stock after selling 6,306 shares during the period. Chesapeake Capital Corp IL’s holdings in Louisiana-Pacific were worth $491,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new position in shares of Louisiana-Pacific in the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC purchased a new stake in Louisiana-Pacific during the first quarter valued at approximately $25,000. Whittier Trust Co. bought a new position in Louisiana-Pacific in the first quarter worth approximately $31,000. Bessemer Group Inc. boosted its stake 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 worth $37,000 after acquiring an additional 318 shares during the last quarter. Finally, GAMMA Investing LLC grew 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 acquiring an additional 177 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

Shares of NYSE LPX opened at $93.26 on Tuesday. The company has a market cap of $6.55 billion, a P/E ratio of 25.62, a P/E/G ratio of 0.59 and a beta of 1.88. Louisiana-Pacific Co. has a 52-week low of $49.47 and a 52-week high of $101.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.95 and a current ratio of 3.38. The firm’s fifty day moving average is $92.04 and its two-hundred day moving average is $85.52.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The firm had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $797.26 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue was up 33.2% compared to the same quarter last year. As a group, analysts anticipate that Louisiana-Pacific Co. will post 5.05 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.04 annualized dividend and a yield of 1.12%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 28.57%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LPX. Royal Bank of Canada lifted their target price on Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a research report on Thursday, August 8th. DA Davidson increased their target price 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. StockNews.com raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up from $101.00) on shares of Louisiana-Pacific in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.88.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 3,591 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $89.18, for a total value of $320,245.38. Following the completion of the sale, the director now directly owns 23,501 shares in the company, valued at $2,095,819.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the sale, the chief executive officer now directly owns 596,886 shares in the company, valued at $55,773,027.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lizanne C. Gottung sold 3,591 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $89.18, for a total value of $320,245.38. Following the completion of the transaction, 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. In the last quarter, insiders sold 36,991 shares of company stock valued at $3,443,269. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific Profile

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.