CenterBook Partners LP Reduces Position in Louisiana-Pacific Corporation (NYSE:LPX)

Key Points

• CenterBook Partners LP reduced its holdings in Louisiana-Pacific Corporation by 21.5%, now owning 24,336 shares valued at approximately $2.24 million.
• Several hedge funds increased their stakes in Louisiana-Pacific, with the Ontario Teachers Pension Plan Board significantly raising its position by 111.3%.
• Louisiana-Pacific announced a quarterly dividend of $0.28 per share, set to be paid on August 29th, with a resulting annualized dividend yield of 1.2%.

CenterBook Partners LP decreased its position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,336 shares of the building manufacturing company's stock after selling 6,661 shares during the period. CenterBook Partners LP's holdings in Louisiana-Pacific were worth $2,238,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. grew 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 worth $52,000 after acquiring an additional 242 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Louisiana-Pacific by 41.5% during 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 period. GeoWealth Management LLC boosted its position in shares of Louisiana-Pacific by 1,184.9% during 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 period. Covestor Ltd boosted its position in shares of Louisiana-Pacific by 142.6% during the fourth quarter. Covestor Ltd now owns 1,043 shares of the building manufacturing company's stock valued at $108,000 after buying an additional 613 shares during the period. Finally, First Horizon Advisors Inc. boosted its position 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 buying an additional 484 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Stock Down 2.0%

NYSE:LPX traded down $1.83 during trading hours on Friday, reaching $90.71. The company's stock had a trading volume of 646,093 shares, compared to its average volume of 720,208. The company has a market capitalization of $6.32 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.62 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. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.84. The stock has a 50 day moving average price of $89.83 and a two-hundred day moving average price of $93.97.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued 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. 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 the consensus estimate of $751.15 million. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Louisiana-Pacific's revenue for the quarter was down 7.2% compared to the same quarter last year. Equities analysts predict that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 15th. Louisiana-Pacific's payout ratio is currently 19.65%.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific 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 transaction, the director directly owned 18,838 shares of the company's stock, valued at approximately $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.42% of the company's stock.

Analyst Upgrades and Downgrades

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

Louisiana-Pacific Company 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.