BI Asset Management Fondsmaeglerselskab A S Has $8.27 Million Stake in Louisiana-Pacific Corporation $LPX

Key Points

• BI Asset Management Fondsmaeglerselskab A S has increased its stake in Louisiana-Pacific Corporation by 53.7%, acquiring an additional 31,427 shares, bringing its total holdings to 89,925 shares valued at approximately $8.27 million.
• Louisiana-Pacific reported $0.99 earnings per share (EPS) for the recent quarter, exceeding the consensus estimate of $0.97, despite a 7.2% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.28 per share, scheduled for payment on August 29th, representing an annual yield of 1.1%.

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,925 shares of the building manufacturing company's stock after purchasing an additional 31,427 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.13% of Louisiana-Pacific worth $8,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in LPX. UMB Bank n.a. increased its stake in Louisiana-Pacific by 76.1% in the 1st quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock worth $52,000 after purchasing an additional 242 shares in the last quarter. GeoWealth Management LLC boosted its holdings in shares of Louisiana-Pacific by 1,184.9% in 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 during the period. Fifth Third Bancorp increased its position in shares of Louisiana-Pacific by 41.5% in the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after acquiring an additional 305 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of 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 valued at $111,000 after acquiring an additional 484 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Louisiana-Pacific by 31.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,681 shares of the building manufacturing company's stock valued at $174,000 after acquiring an additional 399 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on LPX shares. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada upped their price target on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Truist Financial reduced 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. Wall Street Zen cut Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Finally, DA Davidson reduced their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $106.13.

Louisiana-Pacific Stock Up 7.6%

Shares of Louisiana-Pacific stock traded up $7.0040 during trading on Friday, hitting $99.4340. 1,315,454 shares of the stock traded hands, compared to its average volume of 934,619. The stock has a market cap of $6.92 billion, a P/E ratio of 23.45, a PEG ratio of 2.22 and a beta of 1.80. The company has a fifty day moving average price of $91.06 and a two-hundred day moving average price of $92.47. Louisiana-Pacific Corporation has a twelve month low of $78.82 and a twelve month high of $122.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $751.15 million. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The firm's revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 earnings per share. Equities research analysts predict that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal 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 paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. Louisiana-Pacific's payout ratio is presently 26.42%.

Insider Buying and Selling at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 1,179 shares of the company's stock in a transaction 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 sale, the director directly owned 18,838 shares in the company, valued at approximately $1,686,377.76. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ozey K. Horton, Jr. sold 500 shares of the firm's stock in a transaction dated 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 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 disclosure for this sale can be found here. 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.