Van ECK Associates Corp trimmed its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 716,463 shares of the building manufacturing company’s stock after selling 4,791 shares during the period. Van ECK Associates Corp’s holdings in Louisiana-Pacific were worth $43,196,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Siegel & Walmsley LLC acquired a new stake in Louisiana-Pacific in the 1st quarter valued at about $28,000. Eaton Vance Management acquired a new stake in Louisiana-Pacific in the 1st quarter valued at about $31,000. Exchange Traded Concepts LLC purchased a new position in Louisiana-Pacific in the 2nd quarter valued at about $35,000. IFP Advisors Inc lifted its holdings in Louisiana-Pacific by 95.6% in the 2nd quarter. IFP Advisors Inc now owns 978 shares of the building manufacturing company’s stock valued at $58,000 after purchasing an additional 478 shares in the last quarter. Finally, Assetmark Inc. purchased a new position in Louisiana-Pacific in the 1st quarter valued at about $74,000. 94.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LPX stock opened at $60.35 on Wednesday. The firm has a market cap of $5.75 billion, a P/E ratio of 5.11 and a beta of 1.85. Louisiana-Pacific Co. has a 1-year low of $27.01 and a 1-year high of $76.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.48 and a quick ratio of 2.60. The firm’s 50-day simple moving average is $58.36 and its 200-day simple moving average is $59.81.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Tuesday, August 10th were issued a $0.18 dividend. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, August 9th. This represents a $0.72 annualized dividend and a yield of 1.19%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 16.71%.
In other Louisiana-Pacific news, Director Stephen E. Macadam purchased 1,850 shares of the business’s stock in a transaction that occurred on Monday, August 9th. The shares were purchased at an average price of $56.24 per share, for a total transaction of $104,044.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alan Haughie acquired 12,470 shares of the stock in a transaction on Thursday, August 5th. The stock was purchased at an average cost of $55.94 per share, with a total value of $697,571.80. Following the transaction, the chief financial officer now directly owns 44,228 shares of the company’s stock, valued at $2,474,114.32. The disclosure for this purchase can be found here. Company insiders own 0.60% of the company’s stock.
A number of research analysts have issued reports on the stock. TD Securities reduced their target price on shares of Louisiana-Pacific from $70.00 to $67.00 and set a “hold” rating on the stock in a report on Wednesday, August 4th. Zacks Investment Research lowered shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a report on Tuesday, July 27th. Finally, The Goldman Sachs Group assumed coverage on shares of Louisiana-Pacific in a report on Thursday, July 15th. They issued a “sell” rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.13.
Louisiana-Pacific Corp. engages in designing, manufacturing and marketing of products for the new home construction, repair and remodeling and outdoor structures markets. It operates through the following four segments: Siding, Oriented Strand Board (OSB), Engineered Wood Products, and South America.
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