Louisiana-Pacific Co. (NYSE:LPX) EVP Neil Sherman sold 7,430 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $31.74, for a total value of $235,828.20. Following the transaction, the executive vice president now directly owns 51,708 shares of the company’s stock, valued at approximately $1,641,211.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Louisiana-Pacific stock opened at $30.93 on Monday. Louisiana-Pacific Co. has a 1 year low of $25.57 and a 1 year high of $32.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.68 and a quick ratio of 4.57. The company has a market capitalization of $4.53 billion, a PE ratio of 13.27, a PEG ratio of 2.05 and a beta of 1.47.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. The company had revenue of $810.80 million during the quarter, compared to the consensus estimate of $788.55 million. sell-side analysts predict that Louisiana-Pacific Co. will post 3.1 EPS for the current fiscal year.
Louisiana-Pacific declared that its board has initiated a stock buyback plan on Tuesday, August 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Thursday, August 16th. Louisiana-Pacific’s dividend payout ratio is currently 22.32%.
Several brokerages have commented on LPX. ValuEngine raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 23rd. Zacks Investment Research downgraded Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.25.
Institutional investors have recently added to or reduced their stakes in the company. Synovus Financial Corp increased its stake in shares of Louisiana-Pacific by 174.8% in the second quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock valued at $127,000 after buying an additional 2,972 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Louisiana-Pacific during the 1st quarter valued at approximately $131,000. Cerebellum GP LLC acquired a new stake in Louisiana-Pacific during the 2nd quarter valued at approximately $174,000. Bayesian Capital Management LP acquired a new stake in Louisiana-Pacific during the 1st quarter valued at approximately $247,000. Finally, NumerixS Investment Technologies Inc increased its position in Louisiana-Pacific by 36.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock valued at $249,000 after purchasing an additional 2,450 shares during the period. 92.26% of the stock is owned by institutional investors.
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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