Skandinaviska Enskilda Banken AB publ purchased a new position in Louisiana-Pacific Co. (NYSE:LPX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 596,600 shares of the construction company’s stock, valued at approximately $15,804,000. Skandinaviska Enskilda Banken AB publ owned about 0.42% of Louisiana-Pacific as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased its position in Louisiana-Pacific by 6.5% in the second quarter. BlackRock Inc. now owns 18,429,014 shares of the construction company’s stock worth $501,638,000 after purchasing an additional 1,122,642 shares during the last quarter. Bank of New York Mellon Corp increased its position in Louisiana-Pacific by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 4,518,427 shares of the construction company’s stock worth $122,991,000 after purchasing an additional 321,522 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Louisiana-Pacific by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,285,042 shares of the construction company’s stock worth $116,638,000 after purchasing an additional 39,544 shares during the last quarter. Acadian Asset Management LLC increased its position in Louisiana-Pacific by 27.8% in the second quarter. Acadian Asset Management LLC now owns 2,860,671 shares of the construction company’s stock worth $77,868,000 after purchasing an additional 623,093 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd increased its position in Louisiana-Pacific by 34.4% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,606,707 shares of the construction company’s stock worth $69,051,000 after purchasing an additional 667,019 shares during the last quarter. Institutional investors own 92.63% of the company’s stock.
Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of Louisiana-Pacific from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Seaport Global Securities assumed coverage on shares of Louisiana-Pacific in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $31.00 price target on the stock. BMO Capital Markets upgraded shares of Louisiana-Pacific from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $27.00 to $24.00 in a research report on Monday, October 22nd. They noted that the move was a valuation call. Longbow Research reiterated a “hold” rating on shares of Louisiana-Pacific in a research report on Tuesday, October 9th. Finally, Zacks Investment Research cut shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.13.
In other Louisiana-Pacific news, EVP Neil Sherman sold 7,430 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total transaction of $235,828.20. Following the transaction, the executive vice president now owns 51,708 shares in the company, valued at $1,641,211.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 7,000 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $29.25, for a total transaction of $204,750.00. Following the transaction, the director now owns 18,115 shares in the company, valued at approximately $529,863.75. The disclosure for this sale can be found here. Insiders have sold 38,287 shares of company stock worth $1,180,736 in the last quarter. Company insiders own 1.48% of the company’s stock.
LPX stock opened at $23.44 on Friday. The company has a current ratio of 6.13, a quick ratio of 4.57 and a debt-to-equity ratio of 0.19. Louisiana-Pacific Co. has a twelve month low of $20.89 and a twelve month high of $32.16. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.76 and a beta of 1.61.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.17. Louisiana-Pacific had a net margin of 17.23% and a return on equity of 27.84%. The business had revenue of $736.80 million for the quarter, compared to analysts’ expectations of $724.92 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Louisiana-Pacific Co. will post 2.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, November 15th. Louisiana-Pacific’s dividend payout ratio (DPR) is 22.32%.
Louisiana-Pacific announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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.
Further Reading: Why do company’s buyback their stock?
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