CenterBook Partners LP Trims Stake in Louisiana-Pacific Corporation $LPX

CenterBook Partners LP cut its position in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 81.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,851 shares of the building manufacturing company’s stock after selling 38,339 shares during the period. CenterBook Partners LP’s holdings in Louisiana-Pacific were worth $786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cercano Management LLC bought a new stake in Louisiana-Pacific in the third quarter worth about $10,253,000. GSA Capital Partners LLP purchased a new stake in shares of Louisiana-Pacific in the third quarter worth approximately $259,000. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Louisiana-Pacific by 2.2% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 14,126 shares of the building manufacturing company’s stock worth $1,255,000 after acquiring an additional 298 shares during the last quarter. Fifth Third Bancorp grew its position in Louisiana-Pacific by 266.1% in the 3rd quarter. Fifth Third Bancorp now owns 3,624 shares of the building manufacturing company’s stock valued at $322,000 after acquiring an additional 2,634 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Louisiana-Pacific by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 23,013 shares of the building manufacturing company’s stock worth $2,044,000 after purchasing an additional 432 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

Shares of NYSE:LPX opened at $81.27 on Friday. The firm has a 50 day moving average of $88.00 and a 200 day moving average of $88.40. The company has a quick ratio of 1.72, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 38.89 and a beta of 1.81. Louisiana-Pacific Corporation has a 52 week low of $73.42 and a 52 week high of $103.25.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $589.96 million. During the same period in the previous year, the company posted $1.03 EPS. The business’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, sell-side analysts predict that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is 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 1.5%. Louisiana-Pacific’s dividend payout ratio is currently 53.59%.

Insiders Place Their Bets

In other Louisiana-Pacific news, CEO William Bradley Southern sold 14,166 shares of Louisiana-Pacific stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $89.29, for a total value of $1,264,882.14. Following the transaction, the chief executive officer directly owned 461,719 shares of the company’s stock, valued at approximately $41,226,889.51. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 155,842 shares of company stock valued at $13,912,978 in the last three months. 1.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a research report on Wednesday, January 28th. Oppenheimer began coverage on shares of Louisiana-Pacific in a research report on Thursday, February 5th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Louisiana-Pacific in a report on Monday, December 29th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $104.00 price objective on shares of Louisiana-Pacific in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Louisiana-Pacific presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

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.