6,536 Shares in Louisiana-Pacific Corporation $LPX Acquired by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC acquired a new stake in Louisiana-Pacific Corporation, purchasing 6,536 shares valued at approximately $601,000.
• Louisiana-Pacific recently reported earnings per share of $0.99, exceeding analyst estimates, despite a 7.2% year-over-year revenue decline.
• Institutional investors currently own 94.73% of Louisiana-Pacific's stock, indicating strong support from large financial entities.

Magnetar Financial LLC bought a new stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 6,536 shares of the building manufacturing company's stock, valued at approximately $601,000.

Several other large investors have also recently made changes to their positions in LPX. Northern Trust Corp lifted its stake in shares of Louisiana-Pacific by 27.1% in the 4th quarter. Northern Trust Corp now owns 781,984 shares of the building manufacturing company's stock valued at $80,974,000 after purchasing an additional 166,594 shares during the period. AQR Capital Management LLC increased its holdings in Louisiana-Pacific by 11.1% in the 4th quarter. AQR Capital Management LLC now owns 299,330 shares of the building manufacturing company's stock worth $30,996,000 after acquiring an additional 29,815 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Louisiana-Pacific in the 4th quarter worth $4,334,000. Mercer Global Advisors Inc. ADV increased its holdings in Louisiana-Pacific by 56.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,783 shares of the building manufacturing company's stock worth $909,000 after acquiring an additional 3,162 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Louisiana-Pacific by 11.6% in the 4th quarter. Ameriprise Financial Inc. now owns 211,917 shares of the building manufacturing company's stock worth $21,944,000 after acquiring an additional 22,072 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. DA Davidson dropped their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Truist Financial lowered their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Finally, Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Four 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 an average rating of "Hold" and a consensus price target of $106.13.

Insider Activity

In other news, Director Lizanne C. Gottung sold 1,179 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction dated Thursday, August 14th. The stock was 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 represents a 1.65% decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by corporate insiders.

Louisiana-Pacific Trading Up 2.3%

NYSE LPX traded up $2.21 during trading hours on Friday, reaching $98.97. The company had a trading volume of 965,714 shares, compared to its average volume of 752,406. The stock has a 50-day moving average of $92.58 and a 200 day moving average of $91.50. Louisiana-Pacific Corporation has a 1-year low of $78.82 and a 1-year 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 stock has a market capitalization of $6.89 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, beating 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 company had revenue of $755.00 million for the quarter, compared to analysts' expectations of $751.15 million. During the same quarter in the prior year, the company posted $2.09 earnings per share. Louisiana-Pacific's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

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

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.