Vanguard Group Inc. raised its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,500,326 shares of the construction company’s stock after buying an additional 1,302,444 shares during the period. Vanguard Group Inc. owned about 10.01% of Louisiana-Pacific Corporation worth $349,603,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LPX. Advisors Preferred LLC lifted its stake in shares of Louisiana-Pacific Corporation by 2,723.0% in the 2nd quarter. Advisors Preferred LLC now owns 4,291 shares of the construction company’s stock valued at $103,000 after purchasing an additional 4,139 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Louisiana-Pacific Corporation by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the construction company’s stock valued at $137,000 after purchasing an additional 539 shares during the period. US Bancorp DE lifted its stake in shares of Louisiana-Pacific Corporation by 6.9% in the 2nd quarter. US Bancorp DE now owns 6,169 shares of the construction company’s stock valued at $149,000 after purchasing an additional 400 shares during the period. Creative Planning lifted its stake in shares of Louisiana-Pacific Corporation by 1.9% in the 2nd quarter. Creative Planning now owns 7,773 shares of the construction company’s stock valued at $187,000 after purchasing an additional 147 shares during the period. Finally, Riverhead Capital Management LLC raised its stake in Louisiana-Pacific Corporation by 78.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,187 shares of the construction company’s stock worth $197,000 after buying an additional 3,587 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.
In other Louisiana-Pacific Corporation news, insider Rebecca Anne Barckley sold 5,128 shares of Louisiana-Pacific Corporation stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $27.00, for a total transaction of $138,456.00. Following the transaction, the insider now directly owns 7,305 shares of the company’s stock, valued at $197,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Sims sold 5,871 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $27.06, for a total transaction of $158,869.26. Following the completion of the sale, the senior vice president now directly owns 41,523 shares in the company, valued at $1,123,612.38. The disclosure for this sale can be found here. Insiders own 1.48% of the company’s stock.
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Shares of Louisiana-Pacific Corporation (LPX) opened at 28.28 on Tuesday. The firm’s 50 day moving average price is $27.27 and its 200 day moving average price is $25.14. The stock has a market cap of $4.09 billion, a P/E ratio of 16.10 and a beta of 1.31. Louisiana-Pacific Corporation has a 52-week low of $17.08 and a 52-week high of $29.44.
Louisiana-Pacific Corporation (NYSE:LPX) last announced its earnings results on Tuesday, August 1st. The construction company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). Louisiana-Pacific Corporation had a net margin of 10.50% and a return on equity of 17.13%. The company had revenue of $694.00 million during the quarter, compared to analyst estimates of $700.73 million. During the same quarter last year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts expect that Louisiana-Pacific Corporation will post $2.15 EPS for the current year.
A number of research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Louisiana-Pacific Corporation and gave the stock an “outperform” rating in a research note on Tuesday, September 26th. BMO Capital Markets downgraded Louisiana-Pacific Corporation from a “market perform” rating to an “underperform” rating and increased their price objective for the stock from $22.00 to $24.00 in a research note on Friday, September 29th. They noted that the move was a valuation call. Longbow Research reissued a “neutral” rating on shares of Louisiana-Pacific Corporation in a research note on Tuesday, October 10th. BidaskClub raised Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, Zacks Investment Research downgraded Louisiana-Pacific Corporation from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Louisiana-Pacific Corporation presently has a consensus rating of “Hold” and a consensus target price of $28.40.
About Louisiana-Pacific Corporation
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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