AlphaQuest LLC Trims Position in Louisiana-Pacific Corporation $LPX

Key Points

• AlphaQuest LLC has significantly reduced its stake in Louisiana-Pacific Corporation by 79.9%, leaving it with 1,386 shares valued at $127,000.
• Several institutional investors have increased their positions in Louisiana-Pacific, with Channing Capital Management LLC boosting its stake by 13.2%.
• Louisiana-Pacific reported $0.99 earnings per share, surpassing analysts' expectations, despite a 7.2% decline in revenue year-over-year.

AlphaQuest LLC reduced its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 79.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,386 shares of the building manufacturing company's stock after selling 5,512 shares during the period. AlphaQuest LLC's holdings in Louisiana-Pacific were worth $127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Eminence Capital LP grew its position in shares of Louisiana-Pacific by 7.7% during the 4th quarter. Eminence Capital LP now owns 1,445,106 shares of the building manufacturing company's stock valued at $149,641,000 after acquiring an additional 102,897 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Louisiana-Pacific by 2.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company's stock valued at $131,109,000 after acquiring an additional 24,285 shares during the period. Northern Trust Corp grew its position in shares of Louisiana-Pacific by 27.1% during the 4th quarter. Northern Trust Corp now owns 781,984 shares of the building manufacturing company's stock valued at $80,974,000 after acquiring an additional 166,594 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Louisiana-Pacific by 6.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 684,998 shares of the building manufacturing company's stock valued at $63,007,000 after acquiring an additional 38,801 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of Louisiana-Pacific by 252.2% during the 1st quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock valued at $62,746,000 after acquiring an additional 488,458 shares during the period. 94.73% of the stock is owned by institutional investors.

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the firm's 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 sale, the director owned 29,728 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, Director Lizanne C. Gottung sold 1,179 shares of the company's 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 sale, the director directly owned 18,838 shares of the company's stock, valued at approximately $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. Company insiders own 1.42% of the company's stock.

Wall Street Analysts Forecast Growth

LPX has been the topic of a number of recent research reports. DA Davidson dropped 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 note on Wednesday, June 25th. Truist Financial reduced their target price 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. Finally, Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Louisiana-Pacific presently has a consensus rating of "Hold" and a consensus price target of $106.13.

Louisiana-Pacific Trading Up 2.5%

Shares of NYSE:LPX traded up $2.38 on Friday, hitting $99.14. The company had a trading volume of 574,236 shares, compared to its average volume of 751,649. Louisiana-Pacific Corporation has a 1 year low of $78.82 and a 1 year high of $122.87. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 2.07 and a beta of 1.84. The firm's 50-day simple moving average is $92.58 and its two-hundred day simple moving average is $91.50. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. During the same period last year, the company posted $2.09 EPS. Louisiana-Pacific's revenue was down 7.2% on a year-over-year basis. Equities analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

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

About Louisiana-Pacific

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.