TRUE Private Wealth Advisors bought a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,352 shares of the construction company’s stock, valued at approximately $168,000.
Several other institutional investors have also made changes to their positions in the company. MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of Louisiana-Pacific by 34.4% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,606,707 shares of the construction company’s stock valued at $69,051,000 after purchasing an additional 667,019 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Louisiana-Pacific during the 3rd quarter valued at $165,000. Bank of Montreal Can increased its position in shares of Louisiana-Pacific by 12.3% during the 3rd quarter. Bank of Montreal Can now owns 455,122 shares of the construction company’s stock valued at $12,057,000 after purchasing an additional 49,950 shares during the last quarter. United Services Automobile Association increased its position in shares of Louisiana-Pacific by 54.6% during the 2nd quarter. United Services Automobile Association now owns 162,513 shares of the construction company’s stock valued at $4,424,000 after purchasing an additional 57,400 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Louisiana-Pacific by 7.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,518,427 shares of the construction company’s stock valued at $122,991,000 after purchasing an additional 321,522 shares during the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Lizanne C. Gottung sold 7,000 shares of Louisiana-Pacific stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $29.25, for a total value of $204,750.00. Following the completion of the sale, the director now owns 18,115 shares of the company’s stock, valued at approximately $529,863.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William Bradley Southern sold 12,042 shares of Louisiana-Pacific stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $31.00, for a total value of $373,302.00. Following the completion of the sale, the chief executive officer now directly owns 196,518 shares of the company’s stock, valued at approximately $6,092,058. The disclosure for this sale can be found here. In the last three months, insiders sold 38,287 shares of company stock valued at $1,180,736. 1.48% of the stock is currently owned by insiders.
Shares of LPX opened at $21.80 on Friday. Louisiana-Pacific Co. has a fifty-two week low of $21.50 and a fifty-two week high of $32.16. The stock has a market capitalization of $3.11 billion, a P/E ratio of 6.95, a PEG ratio of 1.49 and a beta of 1.43. The company has a quick ratio of 4.57, a current ratio of 5.68 and a debt-to-equity ratio of 0.20.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, topping the 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 analyst estimates of $788.55 million. Sell-side analysts expect that Louisiana-Pacific Co. will post 2.93 earnings per share for the current year.
Louisiana-Pacific declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 7th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Several brokerages have recently issued reports on LPX. ValuEngine lowered Louisiana-Pacific from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Longbow Research reissued a “hold” rating on shares of Louisiana-Pacific in a report on Tuesday, October 9th. Zacks Investment Research lowered Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $33.25.
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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