KLP Kapitalforvaltning AS Grows Stock Position in Louisiana-Pacific Corporation $LPX

KLP Kapitalforvaltning AS raised its holdings in Louisiana-Pacific Corporation (NYSE:LPX) by 17.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,500 shares of the building manufacturing company’s stock after acquiring an additional 2,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Louisiana-Pacific were worth $1,505,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LPX. Chung Wu Investment Group LLC acquired a new stake in Louisiana-Pacific during the second quarter worth $26,000. RMG Wealth Management LLC acquired a new position in shares of Louisiana-Pacific in the second quarter worth $44,000. Beacon Capital Management LLC boosted its holdings in Louisiana-Pacific by 570.6% in the second quarter. Beacon Capital Management LLC now owns 684 shares of the building manufacturing company’s stock valued at $59,000 after purchasing an additional 582 shares during the period. Fifth Third Bancorp boosted its holdings in Louisiana-Pacific by 41.5% in the first 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 period. Finally, First Horizon Advisors Inc. lifted its position 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 worth $111,000 after purchasing an additional 484 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LPX shares. DA Davidson reissued a “buy” rating and issued a $117.00 price target on shares of Louisiana-Pacific in a research report on Thursday, September 25th. Wall Street Zen downgraded shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Louisiana-Pacific in a research report on Wednesday, October 8th. Finally, Truist Financial dropped their target price on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating for the company in a report on Friday, July 11th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $110.57.

Louisiana-Pacific Stock Up 1.0%

LPX stock opened at $89.70 on Tuesday. The stock has a market capitalization of $6.25 billion, a P/E ratio of 21.16, a PEG ratio of 2.03 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. Louisiana-Pacific Corporation has a one year low of $78.82 and a one year high of $122.87. The company has a 50 day moving average price of $93.00 and a two-hundred day moving average price of $90.48.

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

Louisiana-Pacific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.28 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.12 annualized dividend and a yield of 1.2%. Louisiana-Pacific’s payout ratio is 26.42%.

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 500 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total transaction of $50,500.00. Following the completion of the sale, the director directly owned 29,728 shares of the company’s stock, valued at $3,002,528. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.42% of the stock is owned by corporate 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.