Allspring Global Investments Holdings LLC trimmed its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 3.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,523 shares of the building manufacturing company’s stock after selling 10,041 shares during the period. Allspring Global Investments Holdings LLC owned 0.34% of Louisiana-Pacific worth $12,926,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zions Bancorporation N.A. acquired a new stake in shares of Louisiana-Pacific in the 1st quarter valued at $25,000. Financial Management Professionals Inc. increased its stake in shares of Louisiana-Pacific by 2,900.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 480 shares of the building manufacturing company’s stock valued at $25,000 after buying an additional 464 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at $42,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at $52,000. Finally, CNB Bank bought a new position in shares of Louisiana-Pacific in the 2nd quarter worth $66,000. 99.23% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LPX has been the topic of several recent research reports. TD Securities lowered Louisiana-Pacific from a “buy” rating to a “hold” rating and set a $72.00 price target on the stock. in a research report on Monday, December 19th. DA Davidson lowered Louisiana-Pacific from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $69.00 to $63.00 in a report on Thursday. Bank of America lowered Louisiana-Pacific from a “neutral” rating to an “underperform” rating and cut their price target for the company from $64.00 to $56.00 in a report on Tuesday, September 20th. Finally, StockNews.com assumed coverage on Louisiana-Pacific in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.60.
Louisiana-Pacific Price Performance
Louisiana-Pacific (NYSE:LPX – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The building manufacturing company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. Louisiana-Pacific had a return on equity of 77.64% and a net margin of 29.88%. The company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $847.81 million. On average, analysts predict that Louisiana-Pacific Co. will post 12.02 EPS for the current year.
Louisiana-Pacific Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Wednesday, November 9th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, November 8th. Louisiana-Pacific’s dividend payout ratio is presently 5.65%.
Insider Transactions at Louisiana-Pacific
In related news, Director Lizanne C. Gottung sold 3,587 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $62.52, for a total value of $224,259.24. Following the completion of the sale, the director now directly owns 27,470 shares in the company, valued at $1,717,424.40. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.26% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Louisiana-Pacific (LPX)
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