PNC Financial Services Group Inc. Buys 261 Shares of Louisiana-Pacific Corporation (NYSE:LPX)

PNC Financial Services Group Inc. raised its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,904 shares of the building manufacturing company’s stock after buying an additional 261 shares during the period. PNC Financial Services Group Inc.’s holdings in Louisiana-Pacific were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LPX. UMB Bank n.a. increased its holdings in shares of Louisiana-Pacific by 76.1% in the 1st quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company’s stock worth $52,000 after buying an additional 242 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Louisiana-Pacific by 41.5% during the 1st quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company’s stock valued at $96,000 after purchasing an additional 305 shares during the last quarter. GeoWealth Management LLC grew its holdings in shares of Louisiana-Pacific by 1,184.9% during the 4th quarter. GeoWealth Management LLC now owns 938 shares of the building manufacturing company’s stock valued at $97,000 after purchasing an additional 865 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Louisiana-Pacific by 67.2% during the 1st quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company’s stock valued at $111,000 after purchasing an additional 484 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Louisiana-Pacific by 31.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,681 shares of the building manufacturing company’s stock valued at $174,000 after purchasing an additional 399 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

LPX has been the topic of several recent research reports. DA Davidson reduced their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, June 25th. Wall Street Zen lowered shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Loop Capital raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Wednesday, May 7th. Truist Financial reduced their target price on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Finally, Royal Bank Of Canada increased their target price on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Louisiana-Pacific has an average rating of “Hold” and a consensus price target of $106.13.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock opened at $99.49 on Friday. The firm has a market cap of $6.93 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.22 and a beta of 1.80. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $90.46 and its two-hundred day simple moving average is $93.21.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. As a group, equities analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. Louisiana-Pacific’s payout ratio is presently 26.42%.

Insider Transactions at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.00, for a total transaction of $50,500.00. Following the sale, the director owned 29,728 shares of the company’s stock, valued at approximately $3,002,528. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total transaction of $105,544.08. Following the sale, the director directly owned 18,838 shares in the company, valued at $1,686,377.76. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company’s stock.

Louisiana-Pacific 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.