Stone Ridge Asset Management LLC Takes $1.13 Million Position in Louisiana-Pacific (LPX)

Stone Ridge Asset Management LLC acquired a new position in shares of Louisiana-Pacific (NYSE:LPX) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 43,027 shares of the construction company’s stock, valued at approximately $1,130,000.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Louisiana-Pacific by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,798 shares of the construction company’s stock worth $140,000 after buying an additional 56 shares in the last quarter. MANA Advisors LLC purchased a new stake in shares of Louisiana-Pacific in the fourth quarter valued at approximately $209,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Louisiana-Pacific by 43.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,172 shares of the construction company’s stock valued at $215,000 after purchasing an additional 2,481 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Louisiana-Pacific in the fourth quarter valued at approximately $225,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Louisiana-Pacific in the third quarter valued at approximately $255,000. Institutional investors own 94.61% of the company’s stock.

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Shares of NYSE LPX traded down $0.74 during mid-day trading on Friday, hitting $29.54. The company had a trading volume of 1,669,864 shares, compared to its average volume of 1,423,426. The stock has a market cap of $4,281.82, a P/E ratio of 12.68, a PEG ratio of 2.18 and a beta of 1.55. The company has a current ratio of 5.03, a quick ratio of 4.07 and a debt-to-equity ratio of 0.22. Louisiana-Pacific has a 1-year low of $22.07 and a 1-year high of $31.07.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Tuesday, February 13th. The construction company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.15. Louisiana-Pacific had a return on equity of 24.05% and a net margin of 14.26%. The company had revenue of $710.60 million for the quarter, compared to analysts’ expectations of $654.26 million. During the same period last year, the firm earned $0.23 earnings per share. Louisiana-Pacific’s quarterly revenue was up 29.2% on a year-over-year basis. equities analysts forecast that Louisiana-Pacific will post 2.71 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Shareholders of record on Monday, February 26th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, February 23rd. Louisiana-Pacific’s dividend payout ratio is presently 22.32%.

In other Louisiana-Pacific news, Director Gary Cook sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $28.58, for a total transaction of $142,900.00. Following the transaction, the director now owns 50,026 shares of the company’s stock, valued at $1,429,743.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Neil Sherman sold 18,885 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $30.04, for a total value of $567,305.40. Following the transaction, the executive vice president now directly owns 62,770 shares in the company, valued at approximately $1,885,610.80. The disclosure for this sale can be found here. 1.48% of the stock is owned by company insiders.

A number of research firms have recently issued reports on LPX. Bank of America upgraded Louisiana-Pacific from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 24th. Seaport Global Securities began coverage on Louisiana-Pacific in a research report on Thursday, March 15th. They issued a “buy” rating and a $37.00 price objective for the company. Stephens set a $31.00 price objective on Louisiana-Pacific and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $39.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday, April 3rd. Finally, ValuEngine upgraded Louisiana-Pacific from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Louisiana-Pacific presently has a consensus rating of “Hold” and an average target price of $31.75.

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Louisiana-Pacific 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.

Institutional Ownership by Quarter for Louisiana-Pacific (NYSE:LPX)

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