Entropy Technologies LP Sells 14,037 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Entropy Technologies LP cut its Louisiana-Pacific position by 75.2% in the first quarter, selling 14,037 shares and retaining 4,633 shares valued at approximately $337,000.
• Other institutional investors were mostly buyers, and hedge funds and institutions collectively own 94.73% of LPX. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.80.
• LPX opened at $71.99, down 2.2%, while its latest quarterly results exceeded expectations with $0.38 in earnings per share versus a $0.14 consensus estimate; however, revenue declined 20.7% year over year.

Entropy Technologies LP lowered its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 75.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,633 shares of the building manufacturing company's stock after selling 14,037 shares during the period. Entropy Technologies LP's holdings in Louisiana-Pacific were worth $337,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of Louisiana-Pacific by 128.6% during the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company's stock worth $16,259,000 after purchasing an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Louisiana-Pacific during the 1st quarter valued at $273,000. Goldman Sachs Group Inc. raised its holdings in Louisiana-Pacific by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company's stock worth $25,274,000 after buying an additional 18,413 shares during the last quarter. Empowered Funds LLC raised its holdings in Louisiana-Pacific by 207.1% during the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company's stock worth $2,596,000 after buying an additional 19,029 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Louisiana-Pacific by 15.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company's stock worth $20,747,000 after buying an additional 29,846 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LPX shares. Weiss Ratings upgraded shares of Louisiana-Pacific from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Bank of America raised their price target on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Jefferies Financial Group initiated coverage on Louisiana-Pacific in a research note on Tuesday, June 23rd. They set a "buy" rating and a $93.00 price target for the company. Truist Financial decreased their price objective on Louisiana-Pacific from $93.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Finally, BMO Capital Markets upgraded Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 target price on the stock in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.80.

Louisiana-Pacific Trading Down 2.2%

Shares of LPX stock opened at $71.99 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 2.32 and a beta of 1.60. Louisiana-Pacific Corporation has a 52-week low of $66.12 and a 52-week high of $102.86. The company has a 50-day simple moving average of $74.92 and a two-hundred day simple moving average of $78.28.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.24. The company had revenue of $574.00 million during the quarter, compared to the consensus estimate of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.Louisiana-Pacific's revenue was down 20.7% on a year-over-year basis. During the same period last year, the business posted $1.27 earnings per share. Research analysts anticipate that Louisiana-Pacific Corporation will post 1.93 EPS for the current fiscal year.

About Louisiana-Pacific

Louisiana-Pacific Corporation NYSE: LPX is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.

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