Channing Capital Management LLC Boosts Stake in Louisiana-Pacific Corporation $LPX

Key Points

• Channing Capital Management LLC increased its stake in Louisiana-Pacific Corporation by 13.2%, owning approximately $56.64 million worth of shares after purchasing an additional 71,790 shares.
• Insider trading activity revealed that Director Ozey K. Horton, Jr. and another director sold shares, reducing their positions by 1.65% and 5.89%, respectively.
• The company announced a quarterly dividend of $0.28 per share, with the payment to occur on August 29th, reflecting a 1.2% yield.

Channing Capital Management LLC raised its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 615,817 shares of the building manufacturing company's stock after purchasing an additional 71,790 shares during the period. Channing Capital Management LLC owned about 0.88% of Louisiana-Pacific worth $56,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Alyeska Investment Group L.P. grew its stake in 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 buying an additional 842,809 shares during the last quarter. Allianz Asset Management GmbH grew its stake 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 valued at $62,746,000 after purchasing an additional 488,458 shares during the last quarter. Palestra Capital Management LLC purchased a new position in shares of Louisiana-Pacific in the 4th quarter valued at approximately $34,521,000. Point72 Asset Management L.P. grew its stake in shares of Louisiana-Pacific by 430.3% in the 4th quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company's stock valued at $38,924,000 after purchasing an additional 305,021 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Louisiana-Pacific in the 1st quarter valued at approximately $25,409,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

LPX has been the subject of several recent analyst reports. Truist Financial reduced their price target on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a report on Friday, July 11th. Wall Street Zen cut Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Royal Bank Of Canada raised their price target on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Loop Capital raised Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a report on Wednesday, May 7th. Finally, DA Davidson reduced their price target on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $106.13.

Louisiana-Pacific Price Performance

LPX stock traded down $0.5460 during midday trading on Monday, hitting $98.9340. 857,053 shares of the stock were exchanged, compared to its average volume of 748,771. The stock's 50-day moving average price is $91.06 and its 200-day moving average price is $92.29. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.22 and a beta of 1.80. Louisiana-Pacific Corporation has a fifty-two week low of $78.82 and a fifty-two week 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 results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share for the quarter, topping 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 analysts' expectations of $751.15 million. During the same period in the previous year, the firm posted $2.09 earnings per share. The business's revenue for the quarter was down 7.2% compared to the same quarter last year. Research analysts predict that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued 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 of this dividend is Friday, August 15th. Louisiana-Pacific's payout ratio is 26.42%.

Insiders Place Their Bets

In other news, Director Lizanne C. Gottung sold 1,179 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total value of $105,544.08. Following the completion of the transaction, the director directly owned 18,838 shares of the company's stock, valued at $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction 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 completion of the sale, the director directly owned 29,728 shares of the company's stock, valued at approximately $3,002,528. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company's stock.

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.