Louisiana-Pacific Corporation $LPX Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Louisiana-Pacific Corporation by 129.2% in the second quarter, bringing its total holdings to 5,939 shares worth approximately $511,000.
• Institutional investors and hedge funds now own 94.73% of Louisiana-Pacific's stock, indicating significant institutional interest in the company.
• Louisiana-Pacific reported $0.99 EPS for the recent quarter, surpassing analysts' expectations, although it experienced a 7.2% decline in revenue compared to the previous year.

Bayforest Capital Ltd raised its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 129.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,939 shares of the building manufacturing company's stock after purchasing an additional 3,348 shares during the period. Bayforest Capital Ltd's holdings in Louisiana-Pacific were worth $511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of Louisiana-Pacific by 1,699.3% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the building manufacturing company's stock worth $241,000 after acquiring an additional 2,498 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Louisiana-Pacific by 41.5% in the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after acquiring an additional 305 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Louisiana-Pacific by 67.1% in the first quarter. Ritholtz Wealth Management now owns 12,330 shares of the building manufacturing company's stock worth $1,134,000 after acquiring an additional 4,949 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Louisiana-Pacific in the first quarter worth $1,379,000. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Louisiana-Pacific by 3.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 4,658 shares of the building manufacturing company's stock worth $425,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Louisiana-Pacific in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a research note on Friday, October 10th. DA Davidson restated a "buy" rating and issued a $117.00 target price on shares of Louisiana-Pacific in a research note on Thursday, September 25th. Wall Street Zen downgraded shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Finally, Truist Financial decreased their target price on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $110.57.

Insider Buying and Selling at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total transaction of $50,500.00. Following the sale, the director directly owned 29,728 shares of the company's stock, valued at approximately $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.42% of the company's stock.

Louisiana-Pacific Trading Up 3.3%

NYSE LPX opened at $92.69 on Wednesday. Louisiana-Pacific Corporation has a 12 month low of $78.82 and a 12 month high of $122.87. 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 company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.80. The company's fifty day moving average price is $92.96 and its two-hundred day moving average price is $90.50.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The building manufacturing company reported $0.99 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 firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $751.15 million. During the same period in the prior year, the firm posted $2.09 EPS. The firm's revenue was down 7.2% compared to the same quarter last year. As a group, research analysts predict that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders 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 of this dividend was Friday, August 15th. Louisiana-Pacific's dividend payout ratio is 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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