HighTower Advisors LLC Sells 4,352 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• HighTower Advisors LLC has reduced its stake in Louisiana-Pacific Corporation by 32.8%, now holding 8,917 shares valued at approximately $820,000.
• Insider transactions included Director Ozey K. Horton, Jr. selling 500 shares for $50,500, indicating a 1.65% decrease in his holdings.
• Louisiana-Pacific reported earnings of $0.99 per share for the quarter, which exceeded estimates, despite a 7.2% year-over-year revenue decline.

HighTower Advisors LLC decreased its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 32.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,917 shares of the building manufacturing company's stock after selling 4,352 shares during the quarter. HighTower Advisors LLC's holdings in Louisiana-Pacific were worth $820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its stake in shares of Louisiana-Pacific by 2.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,700 shares of the building manufacturing company's stock valued at $383,000 after purchasing an additional 95 shares during the period. CWM LLC raised its stake in shares of Louisiana-Pacific by 4.1% in the 1st quarter. CWM LLC now owns 2,919 shares of the building manufacturing company's stock valued at $268,000 after purchasing an additional 115 shares during the period. Xponance Inc. raised its stake in shares of Louisiana-Pacific by 1.1% in the 1st quarter. Xponance Inc. now owns 11,370 shares of the building manufacturing company's stock valued at $1,046,000 after purchasing an additional 127 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of 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 valued at $425,000 after purchasing an additional 140 shares during the period. Finally, Capital Advisory Group Advisory Services LLC raised its stake in shares of Louisiana-Pacific by 7.3% in the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 2,543 shares of the building manufacturing company's stock valued at $234,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Insider Buying and Selling

In other news, Director Lizanne C. Gottung sold 1,179 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the completion of the sale, the director owned 18,838 shares in the company, valued at $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ozey K. Horton, Jr. sold 500 shares of the business'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 sale, the director owned 29,728 shares of the company's stock, valued at approximately $3,002,528. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. DA Davidson lowered their target price on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Loop Capital raised Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada lifted their target price on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, Truist Financial lowered their target price on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $106.13.

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock traded down $0.49 during midday trading on Monday, reaching $95.21. 707,262 shares of the company's stock were exchanged, compared to its average volume of 1,027,189. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week 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 firm has a market cap of $6.63 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 2.12 and a beta of 1.84. The stock's 50-day simple moving average is $92.05 and its 200 day simple moving average is $91.70.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, topping 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 business had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. During the same quarter last year, the company posted $2.09 earnings per share. Louisiana-Pacific's quarterly revenue was down 7.2% on a year-over-year basis. On average, analysts expect that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

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

Louisiana-Pacific 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.