Ameriprise Financial Inc. boosted its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 613,668 shares of the building manufacturing company’s stock after purchasing an additional 13,084 shares during the period. Ameriprise Financial Inc. owned about 0.60% of Louisiana-Pacific worth $34,034,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC bought a new position in Louisiana-Pacific in the first quarter valued at $28,000. Captrust Financial Advisors grew its position in Louisiana-Pacific by 61.1% in the fourth quarter. Captrust Financial Advisors now owns 1,026 shares of the building manufacturing company’s stock valued at $38,000 after purchasing an additional 389 shares in the last quarter. Assetmark Inc. bought a new position in Louisiana-Pacific in the first quarter valued at $74,000. Global Trust Asset Management LLC bought a new position in Louisiana-Pacific in the first quarter valued at $78,000. Finally, FIL Ltd grew its position in Louisiana-Pacific by 80.3% in the fourth quarter. FIL Ltd now owns 2,028 shares of the building manufacturing company’s stock valued at $75,000 after purchasing an additional 903 shares in the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.
In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 8,139 shares of Louisiana-Pacific stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $67.34, for a total value of $548,080.26. Following the completion of the sale, the director now owns 35,229 shares in the company, valued at approximately $2,372,320.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Monday, May 3rd. The building manufacturing company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.31. Louisiana-Pacific had a net margin of 24.41% and a return on equity of 63.93%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $915.98 million. During the same quarter in the previous year, the company earned $0.34 EPS. The business’s revenue was up 73.8% on a year-over-year basis. On average, equities analysts anticipate that Louisiana-Pacific Co. will post 12.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Monday, May 17th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is 14.85%.
A number of brokerages have commented on LPX. TD Securities increased their price target on shares of Louisiana-Pacific from $70.00 to $76.00 and gave the company a “hold” rating in a research note on Wednesday, May 5th. Zacks Investment Research cut shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating and set a $57.00 price target for the company. in a research note on Tuesday, March 30th. BMO Capital Markets increased their price target on shares of Louisiana-Pacific from $66.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, May 5th. The Goldman Sachs Group began coverage on shares of Louisiana-Pacific in a research note on Thursday, July 15th. They issued a “sell” rating and a $54.00 price target for the company. Finally, Royal Bank of Canada increased their price target on shares of Louisiana-Pacific from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, May 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Louisiana-Pacific currently has an average rating of “Hold” and a consensus price target of $56.78.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.
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