Louisiana-Pacific Corporation $LPX Shares Sold by 59 North Capital Management LP

59 North Capital Management LP reduced its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,799,478 shares of the building manufacturing company’s stock after selling 8,891 shares during the quarter. Louisiana-Pacific makes up about 7.7% of 59 North Capital Management LP’s portfolio, making the stock its 6th biggest holding. 59 North Capital Management LP owned 4.02% of Louisiana-Pacific worth $248,706,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Louisiana-Pacific by 128.6% during the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after purchasing an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Louisiana-Pacific during the 1st quarter worth about $273,000. Goldman Sachs Group Inc. boosted its holdings in shares of Louisiana-Pacific by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock worth $25,274,000 after buying an additional 18,413 shares during the period. Empowered Funds LLC boosted its holdings in shares of Louisiana-Pacific by 207.1% during the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after buying an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Louisiana-Pacific by 15.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock valued at $20,747,000 after buying an additional 29,846 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling

In related news, Director F Nicholas Grasberger III bought 20,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were purchased at an average cost of $85.49 per share, with a total value of $1,709,800.00. Following the acquisition, the director owned 38,954 shares of the company’s stock, valued at $3,330,177.46. This represents a 105.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Bradley Southern sold 55,346 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $91.66, for a total value of $5,073,014.36. Following the completion of the sale, the chief executive officer directly owned 503,381 shares of the company’s stock, valued at approximately $46,139,902.46. The trade was a 9.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 157,142 shares of company stock valued at $14,015,145 in the last three months. Insiders own 1.42% of the company’s stock.

Louisiana-Pacific Price Performance

Shares of LPX opened at $75.78 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.29 billion, a PE ratio of 36.26 and a beta of 1.78. Louisiana-Pacific Corporation has a 12-month low of $73.42 and a 12-month high of $102.86. The business has a 50-day simple moving average of $87.33 and a two-hundred day simple moving average of $86.76.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. Louisiana-Pacific had a return on equity of 10.72% and a net margin of 5.39%.The firm had revenue of $567.00 million for the quarter, compared to analyst estimates of $589.96 million. During the same period last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. Analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.30 dividend. The ex-dividend date was Friday, February 27th. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 53.59%.

Analyst Ratings Changes

LPX has been the topic of several research analyst reports. Zacks Research cut shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. DA Davidson reduced their price objective on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 target price on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. Barclays increased their target price on Louisiana-Pacific from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Finally, Truist Financial boosted their price target on Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Louisiana-Pacific presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.