Bank of New York Mellon Corp Sells 575 Shares of Louisiana-Pacific Corporation (NYSE:LPX)

Bank of New York Mellon Corp cut its position in Louisiana-Pacific Corporation (NYSE:LPX) by 0.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 613,177 shares of the building manufacturing company’s stock after selling 575 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Louisiana-Pacific worth $56,400,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Louisiana-Pacific by 18.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 136,939 shares of the building manufacturing company’s stock valued at $12,486,000 after purchasing an additional 21,462 shares during the period. Putney Financial Group LLC bought a new stake in Louisiana-Pacific in the 4th quarter valued at $389,000. QRG Capital Management Inc. bought a new stake in Louisiana-Pacific in the 1st quarter valued at $1,379,000. Envestnet Portfolio Solutions Inc. bought a new stake in Louisiana-Pacific in the 1st quarter valued at $317,000. Finally, Icon Advisers Inc. Co. bought a new stake in Louisiana-Pacific in the 4th quarter valued at $2,040,000. 94.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LPX shares. DA Davidson dropped their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. Loop Capital raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Wednesday, May 7th. Truist Financial dropped their price objective on Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating for the company in a report on Friday. Finally, Royal Bank Of Canada lifted their price objective on Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.13.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 1,179 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the sale, the director owned 18,838 shares in the company, valued at $1,686,377.76. The trade was a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.42% of the company’s stock.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $92.87 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 3.03. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week high of $122.87. The stock has a market capitalization of $6.46 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 1.44 and a beta of 1.84. The stock has a fifty day moving average of $90.65 and a 200-day moving average of $96.43.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 23.75% and a net margin of 13.74%. The company had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $711.66 million. During the same quarter in the previous year, the firm earned $1.53 EPS. Louisiana-Pacific’s revenue was up .0% on a year-over-year basis. On average, sell-side analysts expect that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.21%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 19.65%.

Louisiana-Pacific Company Profile

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.