Van ECK Associates Corp decreased its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 716,463 shares of the building manufacturing company’s stock after selling 4,791 shares during the quarter. Van ECK Associates Corp’s holdings in Louisiana-Pacific were worth $43,196,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. The PNC Financial Services Group Inc. raised its position in Louisiana-Pacific by 10.8% in the 1st quarter. The PNC Financial Services Group Inc. now owns 3,387 shares of the building manufacturing company’s stock valued at $187,000 after purchasing an additional 331 shares during the last quarter. IFP Advisors Inc raised its position 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 during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Louisiana-Pacific in the 1st quarter valued at $28,000. Eaton Vance Management purchased a new stake in Louisiana-Pacific in the 1st quarter valued at $31,000. Finally, Profund Advisors LLC raised its position in Louisiana-Pacific by 6.1% in the 1st quarter. Profund Advisors LLC now owns 9,805 shares of the building manufacturing company’s stock valued at $544,000 after purchasing an additional 562 shares during the last quarter. Hedge funds and other institutional investors own 94.61% of the company’s stock.
LPX has been the subject of several research reports. The Goldman Sachs Group started coverage on shares of Louisiana-Pacific in a research report on Thursday, July 15th. They issued a “sell” rating and a $54.00 price target for the company. Zacks Investment Research cut shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating and set a $57.00 price objective on the stock. in a research note on Tuesday, July 27th. Finally, TD Securities dropped their price objective on shares of Louisiana-Pacific from $70.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.13.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Monday, August 2nd. The building manufacturing company reported $4.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.25 by $0.49. Louisiana-Pacific had a net margin of 31.30% and a return on equity of 91.77%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 141.8% on a year-over-year basis. Equities analysts anticipate that Louisiana-Pacific Co. will post 13.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Tuesday, August 10th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.19%. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, August 9th. Louisiana-Pacific’s dividend payout ratio is presently 16.71%.
In other news, CFO Alan Haughie bought 12,470 shares of Louisiana-Pacific stock in a transaction on Thursday, August 5th. The shares were bought at an average cost of $55.94 per share, for a total transaction of $697,571.80. Following the acquisition, the chief financial officer now owns 44,228 shares in the company, valued at $2,474,114.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen E. Macadam bought 1,850 shares of Louisiana-Pacific stock in a transaction on Monday, August 9th. The stock was purchased at an average price of $56.24 per share, for a total transaction of $104,044.00. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by corporate insiders.
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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