Legal & General Group Plc Reduces Stock Holdings in Louisiana-Pacific Corporation $LPX

Key Points

• Legal & General Group Plc cut its Louisiana-Pacific stake by 17.6% in the fourth quarter, selling 21,830 shares and leaving it with 102,211 shares valued at about $8.26 million.
• Louisiana-Pacific beat earnings estimates for the quarter, reporting $0.38 EPS versus the $0.14 consensus, though revenue still fell 20.7% year over year to $574 million.
• Analyst sentiment remains positive, with nine Buy ratings and two Hold ratings, giving the stock a consensus “Moderate Buy” and a price target of $97.25.

Legal & General Group Plc trimmed its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 17.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,211 shares of the building manufacturing company's stock after selling 21,830 shares during the period. Legal & General Group Plc owned about 0.15% of Louisiana-Pacific worth $8,255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Eminence Capital LP boosted its position in Louisiana-Pacific by 7.9% in the third quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company's stock worth $276,822,000 after purchasing an additional 228,521 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Louisiana-Pacific by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,549,853 shares of the building manufacturing company's stock worth $137,666,000 after purchasing an additional 28,535 shares during the last quarter. Boston Partners purchased a new position in Louisiana-Pacific in the third quarter worth about $100,770,000. Channing Capital Management LLC boosted its position in Louisiana-Pacific by 12.0% in the third quarter. Channing Capital Management LLC now owns 840,500 shares of the building manufacturing company's stock worth $74,670,000 after purchasing an additional 90,388 shares during the last quarter. Finally, Fernbridge Capital Management LP boosted its stake in shares of Louisiana-Pacific by 284.5% during the 3rd quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company's stock worth $72,916,000 after acquiring an additional 607,319 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LPX shares. DA Davidson reissued a "buy" rating and set a $114.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. TD Securities upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating in a research report on Thursday, May 7th. Truist Financial reissued a "buy" rating and set a $93.00 price target (down from $95.00) on shares of Louisiana-Pacific in a report on Friday, May 8th. Weiss Ratings upgraded Louisiana-Pacific from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Finally, Zacks Research raised Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.25.

Louisiana-Pacific Stock Down 0.9%

Shares of LPX stock opened at $70.64 on Friday. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 59.87, a PEG ratio of 1.79 and a beta of 1.59. Louisiana-Pacific Corporation has a one year low of $66.12 and a one year high of $102.86. The company's fifty day moving average price is $72.88 and its 200-day moving average price is $80.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The company had revenue of $574.00 million during the quarter, compared to the consensus estimate of $569.99 million. During the same quarter in the prior year, the firm posted $1.27 EPS. Louisiana-Pacific's quarterly revenue was down 20.7% compared to the same quarter last year. Sell-side analysts expect that Louisiana-Pacific Corporation will post 2 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Louisiana-Pacific's dividend payout ratio is 101.69%.

Insider Activity

In related news, Director Lizanne M. Bruce sold 1,300 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $78.59, for a total transaction of $102,167.00. Following the completion of the sale, the director owned 17,160 shares in the company, valued at approximately $1,348,604.40. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company's stock.

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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