Channing Capital Management LLC Raises Stock Holdings in Louisiana-Pacific Corporation $LPX

Channing Capital Management LLC raised its position in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 840,500 shares of the building manufacturing company’s stock after buying an additional 90,388 shares during the quarter. Louisiana-Pacific comprises approximately 2.0% of Channing Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Channing Capital Management LLC owned 1.21% of Louisiana-Pacific worth $74,670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPX. Citigroup Inc. lifted its position in Louisiana-Pacific by 48.9% during the 3rd quarter. Citigroup Inc. now owns 95,161 shares of the building manufacturing company’s stock valued at $8,454,000 after acquiring an additional 31,244 shares during the period. Cercano Management LLC purchased a new position in shares of Louisiana-Pacific during the third quarter valued at approximately $10,253,000. GSA Capital Partners LLP purchased a new position in shares of Louisiana-Pacific during the third quarter valued at approximately $259,000. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Louisiana-Pacific by 2.2% in 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 purchasing an additional 298 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Louisiana-Pacific by 266.1% in the 3rd quarter. Fifth Third Bancorp now owns 3,624 shares of the building manufacturing company’s stock worth $322,000 after buying an additional 2,634 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William Bradley Southern sold 14,166 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $89.29, for a total transaction of $1,264,882.14. Following the transaction, the chief executive officer directly owned 461,719 shares of the company’s stock, valued at $41,226,889.51. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 155,842 shares of company stock worth $13,912,978. 1.42% of the stock is currently owned by insiders.

Louisiana-Pacific Price Performance

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

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

Louisiana-Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.30 dividend. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. Louisiana-Pacific’s payout ratio is presently 53.59%.

Analyst Ratings Changes

Several equities research analysts have commented on LPX shares. Oppenheimer assumed coverage on Louisiana-Pacific in a report on Thursday, February 5th. They issued an “outperform” rating on the stock. TD Securities dropped their price target on shares of Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Truist Financial increased their price objective on shares of Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 target price on shares of Louisiana-Pacific in a report on Wednesday. Finally, Zacks Research upgraded shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.33.

About Louisiana-Pacific

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.