Global Endowment Management LP Lowers Holdings in Louisiana-Pacific Corporation $LPX

Key Points

• Global Endowment Management LP has significantly reduced its holdings in Louisiana-Pacific Corporation by 55% in the first quarter, now owning 7,967 shares valued at approximately $733,000.
• Multiple hedge funds have increased their stakes in Louisiana-Pacific, with UMB Bank n.a. raising its stake by 76.1%, while hedge funds collectively own 94.73% of the company's stock.
• Louisiana-Pacific announced a quarterly dividend of $0.28 per share, which represents an annualized yield of 1.1%, with the payout ratio currently at 26.42%.

Global Endowment Management LP decreased its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 55.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,967 shares of the building manufacturing company's stock after selling 9,757 shares during the quarter. Global Endowment Management LP's holdings in Louisiana-Pacific were worth $733,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. 59 North Capital Management LP raised its holdings in Louisiana-Pacific by 13.4% in the fourth quarter. 59 North Capital Management LP now owns 1,982,826 shares of the building manufacturing company's stock valued at $205,322,000 after acquiring an additional 235,069 shares in the last quarter. Eminence Capital LP raised its holdings in Louisiana-Pacific by 7.7% in the fourth quarter. Eminence Capital LP now owns 1,445,106 shares of the building manufacturing company's stock valued at $149,641,000 after acquiring an additional 102,897 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Louisiana-Pacific by 2.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company's stock valued at $131,109,000 after acquiring an additional 24,285 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in Louisiana-Pacific by 1,736.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company's stock worth $92,299,000 after purchasing an additional 842,809 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Louisiana-Pacific by 27.1% during the fourth quarter. Northern Trust Corp now owns 781,984 shares of the building manufacturing company's stock worth $80,974,000 after purchasing an additional 166,594 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Insiders Place Their Bets

In related news, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the transaction, the director directly owned 18,838 shares in the company, valued at $1,686,377.76. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction of $50,500.00. Following the completion of the transaction, the director owned 29,728 shares in the company, valued at approximately $3,002,528. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.42% of the company's stock.

Louisiana-Pacific Stock Performance

Shares of LPX traded down $5.3110 during mid-day trading on Wednesday, reaching $93.1890. 592,058 shares of the company's stock were exchanged, compared to its average volume of 737,817. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. The stock has a market capitalization of $6.49 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.17 and a beta of 1.80. The business's fifty day simple moving average is $90.71 and its 200-day simple moving average is $92.94. Louisiana-Pacific Corporation has a 52-week low of $78.82 and a 52-week high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $2.09 earnings per share. On average, equities research analysts expect that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

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

Wall Street Analyst Weigh In

LPX has been the topic of a number of research analyst reports. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a report on Wednesday, May 7th. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. DA Davidson cut 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. Truist Financial cut 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. Finally, Royal Bank Of Canada raised their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $106.13.

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.