Prudential PLC Purchases 9,581 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Prudential PLC increased its stake in Louisiana-Pacific Corporation by 27.2%, owning 44,829 shares valued at approximately $4.1 million as of the latest SEC filing.
• The company reported $0.99 earnings per share for the last quarter, surpassing analysts' estimates of $0.97, despite a 7.2% year-over-year revenue decline.
• Louisiana-Pacific has announced a quarterly dividend of $0.28, which represents a yield of 1.1% and is scheduled to be paid on August 29th.

Prudential PLC increased its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,829 shares of the building manufacturing company's stock after acquiring an additional 9,581 shares during the period. Prudential PLC owned about 0.06% of Louisiana-Pacific worth $4,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of Louisiana-Pacific by 76.1% during the first quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock worth $52,000 after purchasing an additional 242 shares in the last quarter. Fifth Third Bancorp grew 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 valued at $96,000 after purchasing an additional 305 shares in the last quarter. GeoWealth Management LLC grew its position in shares of Louisiana-Pacific by 1,184.9% in the fourth quarter. GeoWealth Management LLC now owns 938 shares of the building manufacturing company's stock valued at $97,000 after purchasing an additional 865 shares in the last quarter. First Horizon Advisors Inc. lifted its position 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 in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in Louisiana-Pacific by 31.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,681 shares of the building manufacturing company's stock worth $174,000 after buying an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Stock Performance

LPX stock traded down $2.16 during midday trading on Monday, reaching $97.35. The company had a trading volume of 195,822 shares, compared to its average volume of 737,983. The firm has a market capitalization of $6.78 billion, a PE ratio of 22.98, a P/E/G ratio of 2.22 and a beta of 1.80. The stock has a 50 day moving average price of $90.46 and a 200 day moving average price of $93.04. Louisiana-Pacific Corporation has a fifty-two week low of $78.82 and a fifty-two week high of $122.87. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20.

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

Louisiana-Pacific Dividend Announcement

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

Insider Activity

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 1,179 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the transaction, the director directly owned 18,838 shares in the company, valued at $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ozey K. Horton, Jr. sold 500 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the transaction, the director directly owned 29,728 shares in the company, valued at approximately $3,002,528. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.42% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on LPX shares. DA Davidson cut their target price on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Truist Financial reduced their target price on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a report on Friday, July 11th. Loop Capital upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada lifted their price target on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.