Louisiana-Pacific Co. (NYSE:LPX) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 768.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,341 shares of the building manufacturing company’s stock after buying an additional 239,212 shares during the quarter. Assenagon Asset Management S.A. owned 0.38% of Louisiana-Pacific worth $22,257,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. purchased a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $25,000. Whittier Trust Co. purchased a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $31,000. Bessemer Group Inc. increased its position in shares of Louisiana-Pacific by 258.5% in the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Louisiana-Pacific by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 800 shares of Louisiana-Pacific stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the transaction, the director now owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $96.10, for a total transaction of $76,880.00. Following the transaction, the director now owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 3,591 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $89.18, for a total transaction of $320,245.38. Following the transaction, the director now directly owns 23,501 shares in the company, valued at approximately $2,095,819.18. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX traded down $1.41 during trading hours on Friday, hitting $94.12. 372,687 shares of the company’s stock traded hands, compared to its average volume of 923,875. Louisiana-Pacific Co. has a 52 week low of $49.47 and a 52 week high of $101.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.75 and a current ratio of 3.32. The company’s fifty day simple moving average is $89.54 and its two-hundred day simple moving average is $82.12. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 13.92 and a beta of 1.89.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a net margin of 9.74% and a return on equity of 20.87%. The company had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $797.26 million. During the same period last year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 33.2% on a year-over-year basis. As a group, equities analysts anticipate that Louisiana-Pacific Co. will post 5.23 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.10%. The ex-dividend date is Tuesday, August 20th. Louisiana-Pacific’s payout ratio is presently 28.57%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Louisiana-Pacific in a research report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a research report on Thursday, August 8th. TD Securities raised their price objective on shares of Louisiana-Pacific from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Finally, Seaport Res Ptn downgraded shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.88.

Louisiana-Pacific 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.