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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LPX. Ameriprise Financial Inc. increased its stake in shares of Louisiana-Pacific by 11.6% in the fourth quarter. Ameriprise Financial Inc. now owns 211,917 shares of the building manufacturing company's stock worth $21,944,000 after buying an additional 22,072 shares during the last quarter. Cetera Investment Advisers grew its holdings in Louisiana-Pacific by 202.3% during the 4th quarter. Cetera Investment Advisers now owns 28,603 shares of the building manufacturing company's stock worth $2,962,000 after acquiring an additional 19,140 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of Louisiana-Pacific by 26.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 61,060 shares of the building manufacturing company's stock worth $6,323,000 after purchasing an additional 12,658 shares during the last quarter. Ethic Inc. raised its stake in shares of Louisiana-Pacific by 10.6% in the 4th quarter. Ethic Inc. now owns 3,257 shares of the building manufacturing company's stock valued at $337,000 after purchasing an additional 313 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Louisiana-Pacific by 50.5% during the fourth quarter. Janus Henderson Group PLC now owns 113,623 shares of the building manufacturing company's stock worth $11,770,000 after purchasing an additional 38,101 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insider Activity

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 29,728 shares in the company, valued at $3,002,528. The trade was a 1.65% decrease in their position. 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LPX. DA Davidson lowered 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. Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Finally, Truist Financial dropped their target price 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 investment 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $110.57.

Louisiana-Pacific Stock Performance

NYSE:LPX traded down $1.65 during mid-day trading on Friday, hitting $96.10. The stock had a trading volume of 303,939 shares, compared to its average volume of 773,729. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week high of $122.87. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 2.18 and a beta of 1.84. The company has a 50 day simple moving average of $93.43 and a 200-day simple moving average of $91.23.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $751.15 million. During the same period last year, the company earned $2.09 earnings per share. The company's quarterly revenue was down 7.2% compared to the same quarter last year. On average, research analysts expect that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.28 per share. The ex-dividend date was Friday, August 15th. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. Louisiana-Pacific's dividend payout ratio (DPR) is 26.42%.

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.