Highland Capital Management LLC Makes New Investment in Louisiana-Pacific Corporation $LPX

Key Points

• Highland Capital Management LLC has acquired a new position in Louisiana-Pacific Corporation, purchasing 15,813 shares valued at approximately $1,360,000 during the 2nd quarter.
• Louisiana-Pacific reported earnings of $0.99 EPS for the last quarter, exceeding analysts' expectations, although revenue decreased by 7.2% year-over-year.
• The company's recent quarterly dividend was $0.28 per share, resulting in an annualized yield of 1.2% with a payout ratio of 26.42%.

Highland Capital Management LLC acquired a new position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,813 shares of the building manufacturing company's stock, valued at approximately $1,360,000.

A number of other hedge funds also recently made changes to their positions in the stock. CWM LLC raised its stake in Louisiana-Pacific by 4.1% during the 1st quarter. CWM LLC now owns 2,919 shares of the building manufacturing company's stock worth $268,000 after acquiring an additional 115 shares during the period. Xponance Inc. lifted its stake in shares of Louisiana-Pacific by 1.1% during the 1st quarter. Xponance Inc. now owns 11,370 shares of the building manufacturing company's stock valued at $1,046,000 after buying an additional 127 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Louisiana-Pacific by 3.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,658 shares of the building manufacturing company's stock worth $425,000 after buying an additional 140 shares during the period. Advisors Asset Management Inc. increased its stake in Louisiana-Pacific by 2.2% in the 1st quarter. Advisors Asset Management Inc. now owns 7,962 shares of the building manufacturing company's stock worth $732,000 after buying an additional 170 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC raised its holdings in Louisiana-Pacific by 7.3% during the first quarter. Capital Advisory Group Advisory Services LLC now owns 2,543 shares of the building manufacturing company's stock valued at $234,000 after acquiring an additional 173 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Insider Transactions at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 500 shares of the firm'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 value of $50,500.00. Following the completion of the sale, the director directly owned 29,728 shares of the company's stock, valued at $3,002,528. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LPX. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Louisiana-Pacific in a research note on Saturday, September 27th. Wall Street Zen downgraded Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Truist Financial cut their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a report on Friday, July 11th. Finally, DA Davidson reissued a "buy" rating and issued a $117.00 target price on shares of Louisiana-Pacific in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $110.57.

Louisiana-Pacific Stock Up 0.3%

NYSE LPX opened at $90.29 on Monday. The stock has a 50 day moving average price of $93.10 and a 200-day moving average price of $90.66. Louisiana-Pacific Corporation has a one year low of $78.82 and a one year high of $122.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. The company has a market capitalization of $6.29 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.08 and a beta of 1.80.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.02. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $751.15 million. During the same quarter in the prior year, the firm earned $2.09 earnings per share. Louisiana-Pacific's revenue was down 7.2% on a year-over-year basis. As a group, equities analysts predict that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

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

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.

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