CCM Investment Group LLC Invests $633,000 in Louisiana-Pacific Corporation (NYSE:LPX)

Key Points

• CCM Investment Group LLC has acquired a new stake in Louisiana-Pacific Corporation, purchasing 6,915 shares valued at around $633,000 during the first quarter.
• Wall Street analysts have provided mixed ratings for Louisiana-Pacific, with a consensus rating of "Hold" and a price target averaging $106.13, while some analysts have upgraded the stock to "Buy".
• Louisiana-Pacific announced a quarterly dividend of $0.28 per share, following a period of decreased earnings and revenue compared to the previous year.

CCM Investment Group LLC purchased a new stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,915 shares of the building manufacturing company's stock, valued at approximately $633,000.

Several other large investors have also recently bought and sold shares of the business. Alyeska Investment Group L.P. boosted its stake in shares of Louisiana-Pacific by 1,736.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company's stock worth $92,299,000 after acquiring an additional 842,809 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Louisiana-Pacific by 252.2% in the 1st quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock worth $62,746,000 after buying an additional 488,458 shares in the last quarter. Palestra Capital Management LLC acquired a new position in shares of Louisiana-Pacific in the 4th quarter worth approximately $34,521,000. Point72 Asset Management L.P. grew its position in Louisiana-Pacific by 430.3% during the 4th quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company's stock worth $38,924,000 after acquiring an additional 305,021 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Louisiana-Pacific during the 1st quarter worth approximately $25,409,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Louisiana-Pacific Price Performance

Shares of NYSE LPX traded down $2.30 during midday trading on Thursday, reaching $100.45. The stock had a trading volume of 859,634 shares, compared to its average volume of 741,095. The stock has a 50-day moving average of $90.14 and a 200-day moving average of $93.57. 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 company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 2.13 and a beta of 1.80. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87.

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 the consensus estimate of $0.97 by $0.02. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. Louisiana-Pacific's revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. As a group, research analysts anticipate that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

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

Insider Activity at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 1,179 shares of the firm'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 value of $105,544.08. Following the completion of the transaction, the director owned 18,838 shares of the company's stock, valued at approximately $1,686,377.76. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.42% of the stock is owned by company 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.