5,553 Shares in Louisiana-Pacific Corporation (NYSE:LPX) Acquired by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC acquired 5,553 shares of Louisiana-Pacific Corporation (NYSE:LPX), valued at approximately $511,000, in the first quarter.
• Louisiana-Pacific reported earnings per share (EPS) of $0.99 for the quarter, exceeding the consensus estimate of $0.97, although quarterly revenue decreased by 7.2% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, with a dividend yield of 1.2%, payable on August 29th to stockholders of record on August 15th.

Sierra Summit Advisors LLC acquired a new stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,553 shares of the building manufacturing company's stock, valued at approximately $511,000.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Louisiana-Pacific by 76.1% in the 1st quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock valued at $52,000 after acquiring an additional 242 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Louisiana-Pacific by 1,184.9% during the fourth quarter. GeoWealth Management LLC now owns 938 shares of the building manufacturing company's stock worth $97,000 after buying an additional 865 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Louisiana-Pacific by 41.5% during the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after buying an additional 305 shares in the last quarter. Covestor Ltd boosted its holdings in Louisiana-Pacific by 142.6% during the fourth quarter. Covestor Ltd now owns 1,043 shares of the building manufacturing company's stock worth $108,000 after buying an additional 613 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in 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 worth $111,000 after buying an additional 484 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the completion of the transaction, the director owned 18,838 shares in the company, valued at $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.42% of the company's stock.

Louisiana-Pacific Trading Down 2.2%

Louisiana-Pacific stock traded down $2.31 during midday trading on Thursday, hitting $100.44. 511,724 shares of the stock were exchanged, compared to its average volume of 738,697. Louisiana-Pacific Corporation has a fifty-two week low of $78.82 and a fifty-two week high of $122.87. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.13 and a beta of 1.80. The stock's 50-day simple moving average is $90.14 and its 200 day simple moving average is $93.57. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

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

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. Louisiana-Pacific's payout ratio is 26.42%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LPX. Wall Street Zen downgraded shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Truist Financial lowered their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, July 11th. DA Davidson lowered their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Loop Capital upgraded shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada upped their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Louisiana-Pacific currently has a consensus rating of "Hold" and a consensus target price of $106.13.

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.