American Century Companies Inc. Boosts Stake in Louisiana-Pacific Corporation $LPX

Key Points

• American Century Companies Inc. increased its stake in Louisiana-Pacific Corporation by 1.4%, owning 525,686 shares valued at approximately $48.35 million after acquiring an additional 7,381 shares.
• Louisiana-Pacific recently reported $0.99 earnings per share for the quarter, surpassing analysts' expectations and marking a revenue of $755 million, although it represents a 7.2% decrease year-over-year.
• Shares of Louisiana-Pacific have fluctuated between a 52-week low of $78.82 and a high of $122.87, currently trading at about $98.45.

American Century Companies Inc. raised its holdings in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 525,686 shares of the building manufacturing company's stock after purchasing an additional 7,381 shares during the quarter. American Century Companies Inc. owned 0.76% of Louisiana-Pacific worth $48,353,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Fox Run Management L.L.C. boosted its holdings in Louisiana-Pacific by 191.6% in the first quarter. Fox Run Management L.L.C. now owns 9,420 shares of the building manufacturing company's stock valued at $866,000 after purchasing an additional 6,189 shares during the last quarter. Prudential PLC boosted its holdings in Louisiana-Pacific by 27.2% in the first quarter. Prudential PLC now owns 44,829 shares of the building manufacturing company's stock valued at $4,123,000 after purchasing an additional 9,581 shares during the last quarter. CCM Investment Group LLC purchased a new stake in Louisiana-Pacific in the first quarter valued at $633,000. Nuveen LLC acquired a new position in shares of Louisiana-Pacific in the first quarter worth about $25,409,000. Finally, Invesco Ltd. raised its position in shares of Louisiana-Pacific by 103.2% in the first quarter. Invesco Ltd. now owns 527,801 shares of the building manufacturing company's stock worth $48,547,000 after acquiring an additional 268,053 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

NYSE LPX traded up $7.0040 during trading hours on Friday, hitting $99.4340. 1,315,454 shares of the company's stock traded hands, compared to its average volume of 934,619. Louisiana-Pacific Corporation has a 52-week low of $78.82 and a 52-week high of $122.87. The company has a market capitalization of $6.92 billion, a PE ratio of 23.45, a PEG ratio of 2.22 and a beta of 1.80. 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 firm's 50-day moving average is $91.06 and its 200-day moving average is $92.47.

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

Louisiana-Pacific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. Louisiana-Pacific's dividend payout ratio is 26.42%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Loop Capital upgraded shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Wednesday, May 7th. DA Davidson decreased their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Wall Street Zen downgraded shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Royal Bank Of Canada upped their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Truist Financial reduced their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $106.13.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 1,179 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total transaction of $105,544.08. Following the completion of the transaction, the director owned 18,838 shares of the company's stock, valued at approximately $1,686,377.76. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total transaction of $50,500.00. Following the transaction, the director directly owned 29,728 shares of the company's stock, valued at $3,002,528. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.42% of the company's stock.

About Louisiana-Pacific

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.