Allianz Asset Management GmbH Has $23.23 Million Stake in Louisiana-Pacific Corporation $LPX

Key Points

• Allianz Asset Management GmbH reduced its stake in Louisiana-Pacific Corporation by 60.4%, now holding 270,094 shares valued at approximately $23.23 million.
• The company recently announced a quarterly dividend of $0.28 per share, yielding about 1.2% annually, with a payout ratio of 26.42%.
• Louisiana-Pacific reported a decrease in quarterly revenue by 7.2% year-over-year but achieved earnings per share of $0.99, slightly surpassing analysts' expectations.

Allianz Asset Management GmbH trimmed its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 60.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,094 shares of the building manufacturing company's stock after selling 412,070 shares during the quarter. Allianz Asset Management GmbH owned 0.39% of Louisiana-Pacific worth $23,225,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LPX. Kingswood Wealth Advisors LLC raised its stake in shares of Louisiana-Pacific by 3.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 4,658 shares of the building manufacturing company's stock valued at $425,000 after purchasing an additional 140 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Louisiana-Pacific by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,325 shares of the building manufacturing company's stock valued at $673,000 after purchasing an additional 195 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Louisiana-Pacific in the first quarter valued at $317,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Louisiana-Pacific by 12.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,482 shares of the building manufacturing company's stock valued at $320,000 after purchasing an additional 396 shares in the last quarter. Finally, Moran Wealth Management LLC raised its stake in shares of Louisiana-Pacific by 4.7% in the first quarter. Moran Wealth Management LLC now owns 6,447 shares of the building manufacturing company's stock valued at $593,000 after purchasing an additional 289 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Performance

Shares of NYSE:LPX opened at $90.09 on Monday. Louisiana-Pacific Corporation has a twelve month low of $78.82 and a twelve month high of $122.87. The firm has a market cap of $6.27 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. The business has a fifty day moving average of $92.90 and a 200-day moving average of $90.50.

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

Louisiana-Pacific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific's dividend payout ratio (DPR) is presently 26.42%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial dropped their price objective on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Louisiana-Pacific in a research note on Wednesday, October 8th. Wall Street Zen lowered Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Zacks Research upgraded Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a research note on Friday, October 10th. Finally, DA Davidson reiterated a "buy" rating and set a $117.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $110.57.

Insider Buying and Selling

In related news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the sale, the director directly owned 29,728 shares in the company, valued at $3,002,528. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is currently owned by insiders.

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.

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