First Trust Advisors LP Trims Stock Position in Louisiana-Pacific Corporation $LPX

Key Points

• First Trust Advisors LP reduced its Louisiana-Pacific stake by 19.6% in the first quarter, selling 24,693 shares and retaining 101,583 shares worth approximately $7.39 million.
• Institutional ownership remains high at 94.73%, with several funds—including Millennium Management, Goldman Sachs, Empowered Funds and UBS—adding to their LPX positions.
• Louisiana-Pacific beat quarterly earnings estimates, reporting $0.38 in EPS versus $0.14 expected, while revenue fell 20.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.80, above the reported $72.59 share price.

First Trust Advisors LP cut its holdings in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 19.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,583 shares of the building manufacturing company's stock after selling 24,693 shares during the period. First Trust Advisors LP owned 0.15% of Louisiana-Pacific worth $7,390,000 at the end of the most recent reporting period.

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

Louisiana-Pacific Price Performance

LPX opened at $72.59 on Friday. The stock's 50-day moving average price is $74.96 and its 200 day moving average price is $78.24. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 2.36 and a beta of 1.60. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. As a group, sell-side analysts expect that Louisiana-Pacific Corporation will post 1.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays upped their target price on shares of Louisiana-Pacific from $89.00 to $93.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Truist Financial reduced their price target on shares of Louisiana-Pacific from $93.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Oppenheimer decreased their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. BMO Capital Markets raised shares of Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 price objective for the company in a research report on Thursday, May 7th. Finally, TD lifted their target price on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Louisiana-Pacific currently has a consensus rating of "Moderate Buy" and an average target price of $97.80.

Louisiana-Pacific Company Profile

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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