First Trust Direct Indexing L.P. Invests $232,000 in Louisiana-Pacific Co. (NYSE:LPX)

First Trust Direct Indexing L.P. acquired a new stake in Louisiana-Pacific Co. (NYSE:LPXFree Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,764 shares of the building manufacturing company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its position in shares of Louisiana-Pacific by 21.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 503,348 shares of the building manufacturing company’s stock worth $27,820,000 after purchasing an additional 88,147 shares during the last quarter. Invst LLC boosted its holdings in Louisiana-Pacific by 3.2% during the third quarter. Invst LLC now owns 13,160 shares of the building manufacturing company’s stock worth $727,000 after buying an additional 407 shares during the last quarter. Cannell Capital LLC acquired a new position in shares of Louisiana-Pacific during the 3rd quarter worth about $4,700,000. Neo Ivy Capital Management bought a new stake in shares of Louisiana-Pacific in the 3rd quarter valued at about $292,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Louisiana-Pacific by 29.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 51,629 shares of the building manufacturing company’s stock valued at $2,853,000 after acquiring an additional 11,891 shares during the period. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LPX. DA Davidson boosted their price objective on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the company a “buy” rating in a report on Friday, June 14th. Loop Capital started coverage on shares of Louisiana-Pacific in a research report on Friday, May 3rd. They issued a “hold” rating and a $82.00 price objective for the company. TD Securities lifted their target price on Louisiana-Pacific from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. StockNews.com upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets lifted their price objective on Louisiana-Pacific from $83.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.11.

View Our Latest Research Report on Louisiana-Pacific

Louisiana-Pacific Stock Up 0.7 %

Shares of Louisiana-Pacific stock opened at $80.80 on Tuesday. Louisiana-Pacific Co. has a 52-week low of $49.47 and a 52-week high of $95.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.75 and a current ratio of 3.32. The business’s 50 day simple moving average is $86.43 and its 200 day simple moving average is $77.71. The firm has a market cap of $5.79 billion, a PE ratio of 22.20, a P/E/G ratio of 10.42 and a beta of 1.89.

Louisiana-Pacific (NYSE:LPXGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The building manufacturing company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.40. Louisiana-Pacific had a net margin of 9.74% and a return on equity of 20.87%. The business had revenue of $724.00 million for the quarter, compared to analyst estimates of $686.84 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, analysts predict that Louisiana-Pacific Co. will post 5.79 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, May 21st. Louisiana-Pacific’s payout ratio is 28.57%.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 3,591 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $89.18, for a total transaction of $320,245.38. Following the completion of the transaction, the director now directly owns 23,501 shares of the company’s stock, valued at $2,095,819.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.53% of the stock is owned by company insiders.

About Louisiana-Pacific

(Free Report)

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.

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

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