Louisiana-Pacific Corporation $LPX Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly reduced its holdings in Louisiana-Pacific Corporation by 85.1% in the first quarter, owning 10,537 shares valued at $969,000 after selling 60,319 shares.
• Louisiana-Pacific's stock opened at $99.08, with a 12-month trading range between $78.82 and $122.87, reflecting a market capitalization of $6.90 billion.
• The company announced a quarterly dividend of $0.28 per share, resulting in an annualized dividend of $1.12 and a dividend yield of 1.1%.

Cubist Systematic Strategies LLC lessened its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 85.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,537 shares of the building manufacturing company's stock after selling 60,319 shares during the period. Cubist Systematic Strategies LLC's holdings in Louisiana-Pacific were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its holdings 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 worth $63,007,000 after acquiring an additional 38,801 shares during the period. Allianz Asset Management GmbH raised its holdings 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 worth $62,746,000 after acquiring an additional 488,458 shares during the period. Channing Capital Management LLC raised its holdings in shares of Louisiana-Pacific by 13.2% during the 1st quarter. Channing Capital Management LLC now owns 615,817 shares of the building manufacturing company's stock worth $56,643,000 after acquiring an additional 71,790 shares during the period. Invesco Ltd. raised its holdings in shares of Louisiana-Pacific by 103.2% during the 1st quarter. Invesco Ltd. now owns 527,801 shares of the building manufacturing company's stock worth $48,547,000 after acquiring an additional 268,053 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Louisiana-Pacific by 1.4% during the 1st quarter. American Century Companies Inc. now owns 525,686 shares of the building manufacturing company's stock worth $48,353,000 after acquiring an additional 7,381 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insider Activity at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 500 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total transaction of $50,500.00. Following the completion of the sale, the director owned 29,728 shares in the company, valued at $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is owned by company insiders.

Louisiana-Pacific Stock Performance

NYSE LPX traded down $1.65 on Friday, reaching $96.10. The stock had a trading volume of 303,939 shares, compared to its average volume of 773,729. 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 Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. The business's 50-day moving average price is $93.43 and its 200 day moving average price is $91.29. The stock has a market cap of $6.69 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The business had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. During the same quarter in the prior year, the business earned $2.09 earnings per share. The company's quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect 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 was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific's dividend payout ratio is 26.42%.

Wall Street Analyst Weigh In

LPX has been the topic of several research analyst reports. Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. DA Davidson reduced their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Finally, Truist Financial reduced their price objective 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. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $110.57.

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.