Brandywine Global Investment Management LLC lessened its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 74.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 415,924 shares of the construction company’s stock after selling 1,214,855 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.29% of Louisiana-Pacific worth $10,923,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of LPX. Prudential Financial Inc. lifted its position in shares of Louisiana-Pacific by 411.7% during the 3rd quarter. Prudential Financial Inc. now owns 2,068,380 shares of the construction company’s stock worth $56,012,000 after purchasing an additional 1,664,170 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Louisiana-Pacific by 264.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,164,191 shares of the construction company’s stock worth $61,830,000 after purchasing an additional 1,569,696 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Louisiana-Pacific by 232.0% during the 4th quarter. American Century Companies Inc. now owns 1,799,091 shares of the construction company’s stock worth $47,244,000 after purchasing an additional 1,257,159 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Louisiana-Pacific by 190.2% during the 4th quarter. APG Asset Management N.V. now owns 1,553,100 shares of the construction company’s stock worth $33,964,000 after purchasing an additional 1,017,900 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Louisiana-Pacific by 117.3% during the 4th quarter. Acadian Asset Management LLC now owns 1,775,627 shares of the construction company’s stock worth $46,625,000 after purchasing an additional 958,649 shares during the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Neil Sherman sold 18,885 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $30.04, for a total transaction of $567,305.40. Following the transaction, the executive vice president now directly owns 62,770 shares in the company, valued at $1,885,610.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.48% of the company’s stock.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Tuesday, February 13th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $710.60 million for the quarter, compared to analyst estimates of $654.26 million. During the same period in the previous year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. equities analysts anticipate that Louisiana-Pacific Co. will post 2.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Monday, February 26th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 23rd. This represents a $0.52 annualized dividend and a yield of 1.82%. Louisiana-Pacific’s dividend payout ratio is 20.39%.
LPX has been the subject of several research analyst reports. Zacks Investment Research raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, January 9th. 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. Bank of America raised Louisiana-Pacific from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 24th. DA Davidson boosted their price objective on Louisiana-Pacific to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Scotiabank boosted their price objective on Louisiana-Pacific from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Louisiana-Pacific has an average rating of “Hold” and a consensus price target of $30.71.
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Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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