Louisiana-Pacific Corporation $LPX Shares Acquired by Strong Tower Advisory Services

Key Points

• Strong Tower Advisory Services increased its stake in Louisiana-Pacific Corporation by 6.4% during the second quarter, representing approximately 1.3% of its investment portfolio.
• Despite a 7.2% year-over-year revenue decline, Louisiana-Pacific reported $0.99 earnings per share, slightly exceeding analysts' estimates.
• An insider, Director Ozey K. Horton, Jr., sold 500 shares at a total value of $50,500, reducing their ownership by 1.65%.

Strong Tower Advisory Services increased its position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,401 shares of the building manufacturing company's stock after purchasing an additional 4,808 shares during the quarter. Louisiana-Pacific accounts for approximately 1.3% of Strong Tower Advisory Services' investment portfolio, making the stock its 24th largest holding. Strong Tower Advisory Services owned 0.11% of Louisiana-Pacific worth $6,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LPX. UMB Bank n.a. lifted its holdings in shares of Louisiana-Pacific by 76.1% during the first quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock worth $52,000 after purchasing an additional 242 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Louisiana-Pacific by 1,699.3% during the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the building manufacturing company's stock worth $241,000 after purchasing an additional 2,498 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Louisiana-Pacific by 41.5% during the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after purchasing an additional 305 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Louisiana-Pacific by 67.1% during the first quarter. Ritholtz Wealth Management now owns 12,330 shares of the building manufacturing company's stock worth $1,134,000 after purchasing an additional 4,949 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in shares of Louisiana-Pacific during the first quarter worth about $1,379,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Louisiana-Pacific

In other news, 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 completion of the sale, the director directly owned 29,728 shares in the company, valued at $3,002,528. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is owned by company insiders.

Louisiana-Pacific Trading Down 1.4%

Shares of NYSE:LPX opened at $88.87 on Friday. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. The company has a market capitalization of $6.19 billion, a PE ratio of 20.96, a PEG ratio of 2.07 and a beta of 1.80. The business has a 50 day moving average of $93.05 and a two-hundred day moving average of $90.55. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced 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 return on equity of 18.67% and a net margin of 10.34%.The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $751.15 million. During the same period in the previous year, the company posted $2.09 earnings per share. Louisiana-Pacific's revenue for the quarter was down 7.2% on a year-over-year basis. As a group, analysts forecast that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.28 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Louisiana-Pacific's payout ratio is 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.

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