Louisiana-Pacific Corporation $LPX Stock: Sterling Capital Management LLC Decreases Position

Sterling Capital Management LLC lowered its holdings in Louisiana-Pacific Corporation (NYSE:LPX) by 95.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,838 shares of the building manufacturing company’s stock after selling 36,445 shares during the quarter. Sterling Capital Management LLC’s holdings in Louisiana-Pacific were worth $119,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LPX. Berkshire Hathaway Inc purchased a new stake in Louisiana-Pacific during the 2nd quarter worth $445,593,000. Legal & General Group Plc purchased a new position in Louisiana-Pacific in the second quarter valued at about $7,219,000. Bank of America Corp DE purchased a new position in Louisiana-Pacific in the second quarter valued at about $26,389,000. Principal Financial Group Inc. raised its position in Louisiana-Pacific by 20.5% in the first quarter. Principal Financial Group Inc. now owns 497,852 shares of the building manufacturing company’s stock valued at $36,219,000 after purchasing an additional 84,661 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its stake in shares of Louisiana-Pacific by 36.8% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,521,859 shares of the building manufacturing company’s stock worth $119,709,000 after purchasing an additional 409,300 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock opened at $73.46 on Monday. Louisiana-Pacific Corporation has a 12-month low of $62.18 and a 12-month high of $100.34. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 92.99, a price-to-earnings-growth ratio of 5.70 and a beta of 1.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. The firm’s fifty day moving average price is $68.48 and its 200 day moving average price is $75.42.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The firm had revenue of $664.00 million during the quarter, compared to analyst estimates of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, research analysts forecast that Louisiana-Pacific Corporation will post 1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LPX shares. Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Oppenheimer dropped their target price on Louisiana-Pacific from $107.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, October 26th. The Goldman Sachs Group reduced their price target on Louisiana-Pacific from $74.00 to $64.00 and set a “sell” rating on the stock in a research report on Monday, October 12th. Zacks Research upgraded Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Truist Financial decreased their price target on Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific currently has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential, repair and remodeling, and outdoor construction. The company produces engineered wood products designed for use in structural framing, exterior siding, trim, and other building applications.

Its product portfolio includes LP SmartSide siding and trim, oriented strand board and other structural panel products, and solutions for outdoor buildings and construction projects. Louisiana-Pacific markets its products through building-material distributors, retailers, and specialty dealers.

Founded in 1972, Louisiana-Pacific is headquartered in Nashville, Tennessee.