Patten & Patten Inc. TN Lowers Stake in Louisiana-Pacific Corporation $LPX

Patten & Patten Inc. TN trimmed its position in Louisiana-Pacific Corporation (NYSE:LPX) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,619 shares of the building manufacturing company’s stock after selling 135 shares during the quarter. Louisiana-Pacific accounts for approximately 1.2% of Patten & Patten Inc. TN’s portfolio, making the stock its 17th largest holding. Patten & Patten Inc. TN owned about 0.31% of Louisiana-Pacific worth $18,627,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LPX. Chung Wu Investment Group LLC acquired a new position in shares of Louisiana-Pacific in the 2nd quarter valued at approximately $26,000. RMG Wealth Management LLC acquired a new stake in shares of Louisiana-Pacific in the second quarter valued at approximately $44,000. Beacon Capital Management LLC raised its stake in Louisiana-Pacific by 570.6% during the 2nd quarter. Beacon Capital Management LLC now owns 684 shares of the building manufacturing company’s stock valued at $59,000 after acquiring an additional 582 shares in the last quarter. Fifth Third Bancorp grew its position in Louisiana-Pacific by 41.5% in the 1st quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company’s stock valued at $96,000 after buying an additional 305 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Louisiana-Pacific by 67.2% during the first quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company’s stock valued at $111,000 after acquiring an additional 484 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Zacks Research raised shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Louisiana-Pacific in a research report on Wednesday, October 8th. Truist Financial dropped their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. Finally, DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $110.57.

Louisiana-Pacific Price Performance

LPX opened at $93.10 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. The stock has a market capitalization of $6.48 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 2.12 and a beta of 1.80. The company’s 50 day simple moving average is $92.96 and its 200-day simple moving average is $90.52. Louisiana-Pacific Corporation has a one year low of $78.82 and a one year high of $122.87.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $751.15 million. During the same quarter last year, the business earned $2.09 earnings per share. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific’s payout ratio is 26.42%.

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the transaction, the director owned 29,728 shares in the company, valued at $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.