Canada Pension Plan Investment Board Reduces Position in Louisiana-Pacific Corporation $LPX

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Louisiana-Pacific Corporation by 6.1%, owning 138,000 shares valued at approximately $12.7 million as of its latest SEC filing.
• Louisiana-Pacific reported $0.99 earnings per share for the last quarter, slightly exceeding analysts' expectations, though revenues dropped by 7.2% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, representing an annualized yield of 1.2% and a payout ratio of 26.42%.

Canada Pension Plan Investment Board lowered its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 6.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,000 shares of the building manufacturing company's stock after selling 8,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.20% of Louisiana-Pacific worth $12,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Louisiana-Pacific by 18.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 136,939 shares of the building manufacturing company's stock worth $12,486,000 after purchasing an additional 21,462 shares during the last quarter. CCM Investment Group LLC purchased a new stake in Louisiana-Pacific in the first quarter worth approximately $633,000. Sierra Summit Advisors LLC purchased a new stake in Louisiana-Pacific in the first quarter worth approximately $511,000. American Century Companies Inc. boosted its holdings in Louisiana-Pacific by 1.4% in the first quarter. American Century Companies Inc. now owns 525,686 shares of the building manufacturing company's stock worth $48,353,000 after purchasing an additional 7,381 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new stake in Louisiana-Pacific in the fourth quarter worth approximately $389,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Trading Up 2.3%

Shares of LPX stock traded up $2.21 during trading hours on Friday, reaching $98.97. 966,650 shares of the stock were exchanged, compared to its average volume of 865,240. 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. The company's 50-day moving average price is $92.81 and its 200-day moving average price is $91.40. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 2.16 and a beta of 1.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $751.15 million. During the same period in the previous year, the company earned $2.09 EPS. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

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

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 500 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $3,002,528. The trade was a 1.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 in the company, 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. Insiders own 1.42% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Truist Financial cut 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. Finally, DA Davidson dropped 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 note on Wednesday, June 25th. Four 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $106.13.

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.