Louisiana-Pacific Corporation $LPX Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP reduced its holdings in Louisiana-Pacific Corporation by 13.7%, selling 25,255 shares, and now owns approximately 0.23% of the company, valued at $14.6 million.
• An array of hedge funds increased their stakes, with Palestra Capital Management LLC leading with a 173.5% increase in shares, now owning 911,621 shares valued at $83.9 million.
• Louisiana-Pacific reported $0.99 earnings per share for the last quarter, which surpassed analysts' expectations, although revenue decreased by 7.2% year-over-year.

Woodline Partners LP cut its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 13.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 158,605 shares of the building manufacturing company's stock after selling 25,255 shares during the period. Woodline Partners LP owned approximately 0.23% of Louisiana-Pacific worth $14,588,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. 59 North Capital Management LP increased its holdings in shares of Louisiana-Pacific by 32.1% in the first quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock valued at $240,863,000 after purchasing an additional 635,817 shares during the period. Eminence Capital LP increased its holdings in shares of Louisiana-Pacific by 16.0% in the first quarter. Eminence Capital LP now owns 1,675,943 shares of the building manufacturing company's stock valued at $154,153,000 after purchasing an additional 230,837 shares during the period. Palestra Capital Management LLC increased its holdings in shares of Louisiana-Pacific by 173.5% in the first quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company's stock valued at $83,851,000 after purchasing an additional 578,248 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Louisiana-Pacific by 6.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 684,998 shares of the building manufacturing company's stock valued at $63,007,000 after purchasing an additional 38,801 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Louisiana-Pacific by 252.2% in the first quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock valued at $62,746,000 after purchasing an additional 488,458 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $95.33 on Thursday. The stock has a 50 day moving average price of $93.22 and a 200 day moving average price of $91.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. The stock has a market cap of $6.64 billion, a PE ratio of 22.48, a P/E/G ratio of 2.13 and a beta of 1.84. Louisiana-Pacific Corporation has a one year low of $78.82 and a one year high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The company had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. Equities research analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS 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 paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.12 annualized dividend and a yield of 1.2%. Louisiana-Pacific's dividend payout ratio (DPR) is 26.42%.

Analysts Set New Price Targets

Several analysts recently commented on the company. DA Davidson dropped their target price on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Truist Financial lowered their price target on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Four investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $106.13.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 500 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 29,728 shares of the company's stock, valued at $3,002,528. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.

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