Geode Capital Management LLC Purchases 18,287 Shares of Louisiana-Pacific Corporation $LPX

Geode Capital Management LLC grew its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,160,434 shares of the building manufacturing company’s stock after buying an additional 18,287 shares during the period. Geode Capital Management LLC’s holdings in Louisiana-Pacific were worth $93,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LPX. North Ridge Wealth Advisors Inc. purchased a new stake in Louisiana-Pacific in the second quarter worth about $26,000. Larson Financial Group LLC increased its position in Louisiana-Pacific by 291.2% in the third quarter. Larson Financial Group LLC now owns 536 shares of the building manufacturing company’s stock worth $48,000 after buying an additional 399 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Louisiana-Pacific in the fourth quarter worth about $52,000. Danske Bank A S purchased a new stake in Louisiana-Pacific in the third quarter worth about $80,000. Finally, State of Wyoming purchased a new stake in Louisiana-Pacific in the third quarter worth about $82,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $70.64 on Friday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 59.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $72.88 and a 200-day moving average price of $80.18. Louisiana-Pacific Corporation has a twelve month low of $66.12 and a twelve month high of $102.86.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. The firm had revenue of $574.00 million during the quarter, compared to analyst estimates of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, equities research analysts predict that Louisiana-Pacific Corporation will post 2 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Louisiana-Pacific’s dividend payout ratio is 101.69%.

Analyst Ratings Changes

A number of analysts have commented on LPX shares. Barclays reduced their price target on Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. DA Davidson restated a “buy” rating and issued a $114.00 price target on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. TD upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Thursday, May 7th. TD Securities upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Finally, Oppenheimer reduced their price target on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.25.

Insider Buying and Selling at Louisiana-Pacific

In other news, Director Lizanne M. Bruce sold 1,300 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $78.59, for a total value of $102,167.00. Following the completion of the transaction, the director owned 17,160 shares of the company’s stock, valued at $1,348,604.40. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

Louisiana-Pacific Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.