LPL Financial LLC lowered its stake in shares of Louisiana-Pacific (NYSE:LPX) by 7.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,953 shares of the construction company’s stock after selling 1,698 shares during the quarter. LPL Financial LLC’s holdings in Louisiana-Pacific were worth $524,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. MANA Advisors LLC acquired a new stake in Louisiana-Pacific during the fourth quarter worth approximately $209,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Louisiana-Pacific by 43.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,172 shares of the construction company’s stock worth $215,000 after buying an additional 2,481 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Louisiana-Pacific during the fourth quarter worth approximately $225,000. Macquarie Group Ltd. acquired a new stake in Louisiana-Pacific during the third quarter worth approximately $265,000. Finally, Flinton Capital Management LLC grew its position in Louisiana-Pacific by 24.4% during the fourth quarter. Flinton Capital Management LLC now owns 10,688 shares of the construction company’s stock worth $281,000 after buying an additional 2,096 shares in the last quarter. 94.61% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Neil Sherman sold 18,885 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $30.04, for a total value of $567,305.40. Following the completion of the transaction, the executive vice president now directly owns 62,770 shares in the company, valued at approximately $1,885,610.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Cook sold 5,000 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $28.58, for a total value of $142,900.00. Following the completion of the transaction, the director now owns 50,026 shares of the company’s stock, valued at $1,429,743.08. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
A number of brokerages recently issued reports on LPX. DA Davidson increased their price target on Louisiana-Pacific to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. BMO Capital Markets set a $25.00 price target on Louisiana-Pacific and gave the stock a “sell” rating in a research report on Tuesday, February 13th. Stephens set a $32.00 target price on Louisiana-Pacific and gave the company a “hold” rating in a report on Tuesday, February 13th. Scotiabank raised their target price on Louisiana-Pacific from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Finally, ValuEngine raised Louisiana-Pacific from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.43.
Shares of LPX stock opened at $31.06 on Wednesday. The firm has a market capitalization of $4,349.94, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. Louisiana-Pacific has a fifty-two week low of $22.07 and a fifty-two week high of $31.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.07 and a current ratio of 5.03.
Louisiana-Pacific (NYSE:LPX) last issued its 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. The firm had revenue of $710.60 million for the quarter, compared to the consensus estimate of $654.26 million. Louisiana-Pacific had a return on equity of 24.05% and a net margin of 14.26%. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. analysts forecast that Louisiana-Pacific will post 2.71 earnings per share for the current year.
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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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