Allspring Global Investments Holdings LLC Sells 14,616 Shares of Louisiana-Pacific Corporation $LPX

Allspring Global Investments Holdings LLC reduced its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 172,227 shares of the building manufacturing company’s stock after selling 14,616 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Louisiana-Pacific were worth $14,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of LPX. Eminence Capital LP increased its position in shares of Louisiana-Pacific by 72.3% during the 2nd quarter. Eminence Capital LP now owns 2,887,438 shares of the building manufacturing company’s stock valued at $248,291,000 after purchasing an additional 1,211,495 shares during the last quarter. Boston Partners purchased a new position in shares of Louisiana-Pacific in the 3rd quarter worth about $100,770,000. Victory Capital Management Inc. grew its position in Louisiana-Pacific by 674.8% during the third quarter. Victory Capital Management Inc. now owns 698,646 shares of the building manufacturing company’s stock valued at $62,068,000 after buying an additional 608,480 shares during the period. Fernbridge Capital Management LP grew its position in Louisiana-Pacific by 284.5% during the third quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company’s stock valued at $72,916,000 after buying an additional 607,319 shares during the period. Finally, Parsifal Capital Management LP purchased a new stake in Louisiana-Pacific during the third quarter worth about $46,161,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling at Louisiana-Pacific

In other Louisiana-Pacific news, CEO William Bradley Southern sold 14,166 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $89.29, for a total transaction of $1,264,882.14. Following the sale, the chief executive officer owned 461,719 shares in the company, valued at $41,226,889.51. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director F Nicholas Grasberger III bought 20,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were bought at an average price of $85.49 per share, for a total transaction of $1,709,800.00. Following the transaction, the director owned 38,954 shares of the company’s stock, valued at approximately $3,330,177.46. This represents a 105.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 113,310 shares of company stock valued at $10,235,781 in the last 90 days. 1.42% of the stock is currently owned by company insiders.

Louisiana-Pacific Price Performance

NYSE LPX opened at $70.85 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.95 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.88 and a beta of 1.78. Louisiana-Pacific Corporation has a 52 week low of $69.63 and a 52 week high of $102.86. The firm’s 50-day simple moving average is $82.23 and its two-hundred day simple moving average is $84.35.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. Louisiana-Pacific had a net margin of 5.39% and a return on equity of 10.72%. The firm had revenue of $567.00 million during the quarter, compared to the consensus estimate of $589.96 million. During the same quarter last year, the company earned $1.03 earnings per share. The company’s revenue was down 16.7% on a year-over-year basis. Research analysts predict that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.30 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.28. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analyst Weigh In

LPX has been the topic of several research reports. DA Davidson lowered their price objective on shares of Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Oppenheimer reissued an “outperform” rating on shares of Louisiana-Pacific in a research report on Tuesday, March 3rd. Barclays raised their price target on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Zacks Research downgraded Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $104.00 price objective on shares of Louisiana-Pacific in a report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Louisiana-Pacific presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Louisiana-Pacific Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.