Algert Global LLC Lowers Stock Position in Louisiana-Pacific Corporation $LPX

Key Points

• Algert Global LLC reduced its holdings in Louisiana-Pacific Corporation by 45.1% in Q1, now owning 54,347 shares valued at approximately $4.99 million.
• Despite Algert's sell-off, other institutional investors, such as UMB Bank and Fifth Third Bancorp, have significantly increased their stakes in Louisiana-Pacific during the same period.
• The company recently reported $0.99 earnings per share for the last quarter, surpassing estimates, but experienced a 7.2% decline in revenue year-over-year.

Algert Global LLC lowered its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 45.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,347 shares of the building manufacturing company's stock after selling 44,676 shares during the quarter. Algert Global LLC owned about 0.08% of Louisiana-Pacific worth $4,999,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Louisiana-Pacific by 76.1% in the first quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock valued at $52,000 after buying an additional 242 shares during the last quarter. GeoWealth Management LLC lifted its position in Louisiana-Pacific by 1,184.9% in the fourth quarter. GeoWealth Management LLC now owns 938 shares of the building manufacturing company's stock valued at $97,000 after buying an additional 865 shares during the last quarter. Fifth Third Bancorp lifted its position in Louisiana-Pacific by 41.5% in the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock valued at $96,000 after buying an additional 305 shares during the last quarter. First Horizon Advisors Inc. increased its stake 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 purchasing an additional 484 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Louisiana-Pacific by 31.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,681 shares of the building manufacturing company's stock worth $174,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price target 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. DA Davidson reduced their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Truist Financial reduced their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Louisiana-Pacific currently has a consensus rating of "Hold" and an average target price of $106.13.

Insider Activity at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the transaction, the director directly owned 29,728 shares in the company, valued at $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 1,179 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total transaction 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. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.42% of the company's stock.

Louisiana-Pacific Stock Up 7.6%

Shares of LPX stock traded up $7.0040 during trading hours on Friday, reaching $99.4340. 1,315,454 shares of the stock were exchanged, compared to its average volume of 977,737. The business's fifty day moving average is $91.06 and its two-hundred day moving average is $92.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. The firm has a market capitalization of $6.92 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.22 and a beta of 1.80.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $751.15 million. During the same period in the prior year, the firm earned $2.09 earnings per share. The business's quarterly revenue was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

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

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.