Russell Investments Group Ltd. Has $18.39 Million Holdings 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. lessened its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,972 shares of the building manufacturing company's stock after selling 14,998 shares during the quarter. Russell Investments Group Ltd. owned about 0.29% of Louisiana-Pacific worth $18,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 59 North Capital Management LP increased its position in Louisiana-Pacific by 13.4% in the 4th quarter. 59 North Capital Management LP now owns 1,982,826 shares of the building manufacturing company's stock valued at $205,322,000 after acquiring an additional 235,069 shares in the last quarter. Eminence Capital LP grew its position in shares of Louisiana-Pacific by 7.7% during the 4th quarter. Eminence Capital LP now owns 1,445,106 shares of the building manufacturing company's stock worth $149,641,000 after buying an additional 102,897 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Louisiana-Pacific by 2.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company's stock worth $131,109,000 after buying an additional 24,285 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Louisiana-Pacific by 1,736.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company's stock worth $92,299,000 after buying an additional 842,809 shares during the period. Finally, Northern Trust Corp boosted its stake in Louisiana-Pacific by 27.1% during the 4th quarter. Northern Trust Corp now owns 781,984 shares of the building manufacturing company's stock worth $80,974,000 after acquiring an additional 166,594 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Louisiana-Pacific Stock Up 0.4%

Shares of LPX stock traded up $0.3250 during trading on Thursday, reaching $93.1450. The company's stock had a trading volume of 513,737 shares, compared to its average volume of 739,638. The business has a fifty day moving average price of $90.79 and a 200-day moving average price of $92.94. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.80. 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 announced its quarterly earnings data 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. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

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

Insider Buying and Selling at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 500 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the transaction, the director directly owned 29,728 shares in the company, valued at $3,002,528. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 1,179 shares of the company's stock in a transaction 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 completion of the transaction, the director owned 18,838 shares in the company, 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. 1.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LPX. Truist Financial reduced their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. DA Davidson reduced their price objective 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, 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 research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Louisiana-Pacific presently has a consensus rating of "Hold" and a consensus price target of $106.13.

About Louisiana-Pacific

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.