SG Americas Securities LLC increased its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 312.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 240,964 shares of the construction company’s stock after acquiring an additional 182,539 shares during the period. SG Americas Securities LLC owned approximately 0.17% of Louisiana-Pacific worth $6,383,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Louisiana-Pacific by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 642,424 shares of the construction company’s stock worth $18,483,000 after buying an additional 15,148 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Louisiana-Pacific by 14.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 20,876 shares of the construction company’s stock worth $568,000 after buying an additional 2,700 shares in the last quarter. Bank of Montreal Can grew its stake in Louisiana-Pacific by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 405,172 shares of the construction company’s stock worth $11,029,000 after buying an additional 10,870 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Louisiana-Pacific in the 2nd quarter worth approximately $4,006,000. Finally, Columbus Macro LLC purchased a new position in Louisiana-Pacific in the 2nd quarter worth approximately $550,000. 92.86% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO William Bradley Southern sold 12,042 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $31.00, for a total transaction of $373,302.00. Following the completion of the sale, the chief executive officer now directly owns 196,518 shares in the company, valued at approximately $6,092,058. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Neil Sherman sold 7,430 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total transaction of $235,828.20. Following the sale, the executive vice president now owns 51,708 shares of the company’s stock, valued at $1,641,211.92. The disclosure for this sale can be found here. Insiders sold a total of 31,287 shares of company stock valued at $975,986 in the last ninety days. 1.48% of the stock is owned by corporate insiders.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.17. Louisiana-Pacific had a net margin of 17.23% and a return on equity of 27.84%. The company had revenue of $736.80 million during the quarter, compared to analysts’ expectations of $724.92 million. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Louisiana-Pacific Co. will post 2.94 EPS for the current year.
Louisiana-Pacific announced that its board has approved a share buyback plan on Tuesday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to repurchase up to 3.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.27%. Louisiana-Pacific’s dividend payout ratio (DPR) is 22.32%.
A number of equities analysts have commented on the stock. Seaport Global Securities assumed coverage on shares of Louisiana-Pacific in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $31.00 price target for the company. ValuEngine cut shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. BMO Capital Markets raised shares of Louisiana-Pacific from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $27.00 to $24.00 in a research note on Monday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Longbow Research reaffirmed a “hold” rating on shares of Louisiana-Pacific in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Louisiana-Pacific presently has an average rating of “Hold” and an average target price of $32.13.
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Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
See Also: Initial Public Offering (IPO)
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