HB Wealth Management LLC Has $288,000 Stock Position in Louisiana-Pacific Corporation $LPX

HB Wealth Management LLC reduced its position in Louisiana-Pacific Corporation (NYSE:LPX) by 24.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,351 shares of the building manufacturing company’s stock after selling 1,070 shares during the period. HB Wealth Management LLC’s holdings in Louisiana-Pacific were worth $288,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. 59 North Capital Management LP lifted its stake in Louisiana-Pacific by 32.1% in the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company’s stock valued at $240,863,000 after purchasing an additional 635,817 shares during the last quarter. Eminence Capital LP lifted its stake in Louisiana-Pacific by 16.0% in the 1st quarter. Eminence Capital LP now owns 1,675,943 shares of the building manufacturing company’s stock valued at $154,153,000 after purchasing an additional 230,837 shares during the last quarter. Palestra Capital Management LLC lifted its stake in Louisiana-Pacific by 173.5% in the 1st quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company’s stock valued at $83,851,000 after purchasing an additional 578,248 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Louisiana-Pacific by 6.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 684,998 shares of the building manufacturing company’s stock valued at $63,007,000 after purchasing an additional 38,801 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Louisiana-Pacific by 252.2% in the 1st quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company’s stock valued at $62,746,000 after purchasing an additional 488,458 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LPX shares. Wall Street Zen downgraded shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Truist Financial cut their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, July 11th. DA Davidson restated a “buy” rating and set a $117.00 price objective on shares of Louisiana-Pacific in a research report on Thursday, September 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Louisiana-Pacific in a research report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Louisiana-Pacific has an average rating of “Hold” and a consensus price target of $110.57.

Louisiana-Pacific Stock Down 1.4%

NYSE LPX opened at $89.15 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a 1-year low of $78.82 and a 1-year high of $122.87. The company has a 50 day moving average of $93.10 and a 200-day moving average of $90.63. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.08 and a beta of 1.80.

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

Louisiana-Pacific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 15th. Louisiana-Pacific’s dividend payout ratio (DPR) is 26.42%.

Insider Transactions at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the transaction, the director directly owned 29,728 shares of the company’s stock, valued at $3,002,528. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.42% of the stock is owned by company insiders.

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.