Woodline Partners LP Has $14.59 Million Position in Louisiana-Pacific Corporation $LPX

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 decreased its holdings in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 about 0.23% of Louisiana-Pacific worth $14,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPX. Ameriprise Financial Inc. raised its stake in Louisiana-Pacific by 11.6% in the fourth quarter. Ameriprise Financial Inc. now owns 211,917 shares of the building manufacturing company's stock valued at $21,944,000 after buying an additional 22,072 shares during the period. Cetera Investment Advisers grew its position in shares of Louisiana-Pacific by 202.3% in the fourth quarter. Cetera Investment Advisers now owns 28,603 shares of the building manufacturing company's stock valued at $2,962,000 after purchasing an additional 19,140 shares during the last quarter. Ensign Peak Advisors Inc grew its position in shares of Louisiana-Pacific by 26.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 61,060 shares of the building manufacturing company's stock valued at $6,323,000 after purchasing an additional 12,658 shares during the last quarter. Ethic Inc. grew its position in shares of Louisiana-Pacific by 10.6% in the fourth quarter. Ethic Inc. now owns 3,257 shares of the building manufacturing company's stock valued at $337,000 after purchasing an additional 313 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Louisiana-Pacific by 50.5% in the fourth quarter. Janus Henderson Group PLC now owns 113,623 shares of the building manufacturing company's stock valued at $11,770,000 after purchasing an additional 38,101 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on LPX. Truist Financial decreased their price objective on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, July 11th. DA Davidson decreased their price target 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. Finally, Wall Street Zen downgraded shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Louisiana-Pacific presently has a consensus rating of "Hold" and a consensus price target of $110.57.

Louisiana-Pacific Price Performance

Shares of NYSE LPX traded down $1.08 during mid-day trading on Tuesday, hitting $93.89. 94,262 shares of the stock traded hands, compared to its average volume of 741,861. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. Louisiana-Pacific Corporation has a twelve month low of $78.82 and a twelve month high of $122.87. The company has a market cap of $6.54 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.14 and a beta of 1.84. The firm has a 50 day simple moving average of $93.54 and a two-hundred day simple moving average of $91.14.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.67% and a net margin of 10.34%.The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $751.15 million. During the same quarter last year, the business posted $2.09 EPS. Louisiana-Pacific's revenue for the quarter was down 7.2% on a year-over-year basis. As a group, equities research analysts forecast 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. Investors of record on Friday, August 15th were given a dividend of $0.28 per share. The ex-dividend date 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 currently 26.42%.

Insider Buying and Selling

In related news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction that occurred 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 in the company, valued at $3,002,528. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

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.