Louisiana-Pacific Co. (NYSE:LPX) Stake Trimmed by Lazard Asset Management LLC

Lazard Asset Management LLC cut its position in shares of Louisiana-Pacific Co. (NYSE:LPXGet Rating) by 64.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,364 shares of the building manufacturing company’s stock after selling 27,899 shares during the quarter. Lazard Asset Management LLC’s holdings in Louisiana-Pacific were worth $805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zions Bancorporation N.A. purchased a new position in shares of Louisiana-Pacific during the first quarter valued at $25,000. Financial Management Professionals Inc. grew its position in Louisiana-Pacific by 2,900.0% in the second quarter. Financial Management Professionals Inc. now owns 480 shares of the building manufacturing company’s stock worth $25,000 after acquiring an additional 464 shares in the last quarter. Total Clarity Wealth Management Inc. acquired a new position in shares of Louisiana-Pacific during the 2nd quarter worth $52,000. CENTRAL TRUST Co raised its holdings in shares of Louisiana-Pacific by 189.0% during the 1st quarter. CENTRAL TRUST Co now owns 1,445 shares of the building manufacturing company’s stock valued at $90,000 after purchasing an additional 945 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Louisiana-Pacific by 35.2% in the 1st quarter. Covestor Ltd now owns 1,720 shares of the building manufacturing company’s stock valued at $107,000 after purchasing an additional 448 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Trading Up 0.6 %

Shares of Louisiana-Pacific stock opened at $61.66 on Friday. Louisiana-Pacific Co. has a 1 year low of $48.20 and a 1 year high of $79.77. The company’s fifty day simple moving average is $54.87 and its 200-day simple moving average is $59.04. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 3.96 and a beta of 1.61. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Wednesday, November 9th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.88 annualized dividend and a dividend yield of 1.43%. Louisiana-Pacific’s payout ratio is 5.65%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LPX. Bank of America downgraded shares of Louisiana-Pacific from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $64.00 to $56.00 in a research report on Tuesday, September 20th. DA Davidson boosted their target price on Louisiana-Pacific to $70.00 in a report on Monday, August 15th. TD Securities lowered their price target on Louisiana-Pacific from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. Finally, StockNews.com began coverage on shares of Louisiana-Pacific in a report on Wednesday, October 12th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.50.

Louisiana-Pacific Profile

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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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Institutional Ownership by Quarter for Louisiana-Pacific (NYSE:LPX)

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