Russell Investments Group Ltd. Trims Stake in Louisiana-Pacific Corporation $LPX

Key Points

• Russell Investments Group Ltd. has reduced its stake in Louisiana-Pacific Corporation by 7%, now holding approximately 199,972 shares valued at about $18.4 million.
• In the most recent quarter, Louisiana-Pacific reported earnings of $0.99 per share, surpassing estimates, but noted a 7.2% decline in revenue compared to the previous year.
• The company has declared a quarterly dividend of $0.28, with a yield of 1.1%, scheduled for payment on August 29th.

Russell Investments Group Ltd. decreased its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 199,972 shares of the building manufacturing company's stock after selling 14,998 shares during the period. Russell Investments Group Ltd. owned 0.29% of Louisiana-Pacific worth $18,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Coldstream Capital Management Inc. increased its stake in shares of Louisiana-Pacific by 2.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,700 shares of the building manufacturing company's stock valued at $383,000 after purchasing an additional 95 shares in the last quarter. CWM LLC increased its stake in shares of Louisiana-Pacific by 4.1% during the first quarter. CWM LLC now owns 2,919 shares of the building manufacturing company's stock valued at $268,000 after purchasing an additional 115 shares in the last quarter. Xponance Inc. boosted its stake in Louisiana-Pacific by 1.1% in the 1st quarter. Xponance Inc. now owns 11,370 shares of the building manufacturing company's stock worth $1,046,000 after purchasing an additional 127 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Louisiana-Pacific by 3.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,658 shares of the building manufacturing company's stock worth $425,000 after purchasing an additional 140 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC boosted its stake in Louisiana-Pacific by 7.3% in the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 2,543 shares of the building manufacturing company's stock worth $234,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Insider Buying and Selling at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific 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 sale, the director owned 29,728 shares of the company's stock, valued at $3,002,528. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lizanne C. Gottung sold 1,179 shares of the company'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 sale, the director directly owned 18,838 shares of the company's stock, valued at approximately $1,686,377.76. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LPX. Royal Bank Of Canada upped 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. Loop Capital upgraded shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a report on Wednesday, May 7th. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Truist Financial cut their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, DA Davidson cut their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Four 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $106.13.

Louisiana-Pacific Stock Performance

NYSE:LPX traded up $6.1140 during mid-day trading on Friday, reaching $98.5440. The company's stock had a trading volume of 355,096 shares, compared to its average volume of 741,747. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. The firm's fifty day moving average price is $90.83 and its two-hundred day moving average price is $92.76. 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 stock has a market cap of $6.86 billion, a P/E ratio of 23.22, a PEG ratio of 2.07 and a beta of 1.80.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly 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 the consensus estimate of $751.15 million. During the same period last year, the business posted $2.09 EPS. The company's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts forecast that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. Louisiana-Pacific's payout ratio is presently 26.42%.

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.