Louisiana-Pacific Corporation $LPX Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Louisiana-Pacific Corporation by 21.4%, now owning approximately 1,515,337 shares valued at $139.38 million.
• Louisiana-Pacific reported $0.99 earnings per share for the quarter, exceeding estimates and showing a 7.2% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.28 per share, with a dividend yield of 1.1%, set to be paid on August 29th.

Price T Rowe Associates Inc. MD trimmed its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,515,337 shares of the building manufacturing company's stock after selling 413,175 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.18% of Louisiana-Pacific worth $139,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LPX. UMB Bank n.a. increased its stake in shares of Louisiana-Pacific by 76.1% in the first quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock valued at $52,000 after buying an additional 242 shares during the period. Fifth Third Bancorp lifted its position in shares of Louisiana-Pacific by 41.5% during the 1st quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after buying an additional 305 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Louisiana-Pacific by 67.2% during the first quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company's stock worth $111,000 after buying an additional 484 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Louisiana-Pacific by 31.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,681 shares of the building manufacturing company's stock valued at $174,000 after buying an additional 399 shares during the period. Finally, Breed s Hill Capital LLC purchased a new stake in shares of Louisiana-Pacific during the 4th quarter valued at approximately $207,000. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Trading Down 1.0%

Shares of NYSE LPX traded down $0.94 during midday trading on Friday, hitting $94.76. The company's stock had a trading volume of 305,120 shares, compared to its average volume of 751,265. The firm has a market cap of $6.60 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 2.14 and a beta of 1.80. The business's 50 day moving average is $91.88 and its two-hundred day moving average is $92.11. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. 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 issued its quarterly earnings data on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share 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 firm had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. During the same period in the prior year, the business posted $2.09 EPS. The firm's quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. Louisiana-Pacific's dividend payout ratio (DPR) is presently 26.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LPX shares. DA Davidson lowered their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Truist Financial lowered their target price on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research note 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. Royal Bank Of Canada increased their price target on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Wednesday, May 7th. Four equities research 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 MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $106.13.

Insider Activity at Louisiana-Pacific

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

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.