Penserra Capital Management LLC grew its stake in Louisiana-Pacific Co. (NYSE:LPX) by 25.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,120 shares of the building manufacturing company’s stock after buying an additional 424 shares during the period. Penserra Capital Management LLC’s holdings in Louisiana-Pacific were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of LPX. Bourgeon Capital Management LLC bought a new position in shares of Louisiana-Pacific during the third quarter worth about $25,000. Coastal Capital Group Inc. bought a new stake in Louisiana-Pacific in the second quarter valued at approximately $27,000. KCS Wealth Advisory acquired a new stake in Louisiana-Pacific during the 3rd quarter valued at approximately $57,000. Price Wealth Management Inc. acquired a new stake in Louisiana-Pacific during the 2nd quarter valued at approximately $84,000. Finally, Prestige Wealth Management Group LLC bought a new position in Louisiana-Pacific during the 2nd quarter worth approximately $113,000. 96.66% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on LPX. Royal Bank of Canada boosted their price target on shares of Louisiana-Pacific to $35.00 and gave the stock a “top pick” rating in a research report on Wednesday, November 6th. TheStreet cut shares of Louisiana-Pacific from a “b” rating to a “c+” rating in a research report on Wednesday, November 6th. TD Securities lifted their target price on shares of Louisiana-Pacific from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. ValuEngine lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Longbow Research cut shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.82.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Tuesday, November 5th. The building manufacturing company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The business had revenue of $603.00 million for the quarter, compared to the consensus estimate of $606.71 million. Louisiana-Pacific had a return on equity of 4.93% and a net margin of 2.67%. Louisiana-Pacific’s quarterly revenue was down 18.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, research analysts predict that Louisiana-Pacific Co. will post 0.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 14th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.54 annualized dividend and a dividend yield of 1.87%. Louisiana-Pacific’s dividend payout ratio is currently 19.71%.
In other news, CEO William Bradley Southern bought 3,745 shares of Louisiana-Pacific stock in a transaction dated Tuesday, November 19th. The stock was bought at an average cost of $29.36 per share, for a total transaction of $109,953.20. Following the purchase, the chief executive officer now directly owns 252,431 shares in the company, valued at approximately $7,411,374.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Cook sold 10,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $29.95, for a total value of $299,500.00. Following the completion of the sale, the director now directly owns 44,462 shares of the company’s stock, valued at $1,331,636.90. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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