MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Position in Louisiana-Pacific Corporation $LPX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in Louisiana-Pacific by 6.0%, owning 466,251 shares valued at approximately $42.9 million after selling 29,995 shares in the first quarter.
• Multiple hedge funds, including 59 North Capital Management and Allianz Asset Management GmbH, significantly increased their stakes in Louisiana-Pacific, indicating increased interest from institutional investors.
• Louisiana-Pacific recently announced a quarterly dividend of $0.28, with a 1.1% dividend yield and a payout ratio of 26.42% as of the latest financial results.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 466,251 shares of the building manufacturing company's stock after selling 29,995 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.67% of Louisiana-Pacific worth $42,886,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LPX. 59 North Capital Management LP lifted its stake in Louisiana-Pacific by 32.1% in the first quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock worth $240,863,000 after purchasing an additional 635,817 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Louisiana-Pacific by 252.2% in the first quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock worth $62,746,000 after purchasing an additional 488,458 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Louisiana-Pacific by 430.3% in the fourth quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company's stock worth $38,924,000 after purchasing an additional 305,021 shares during the last quarter. Nuveen LLC bought a new stake in Louisiana-Pacific in the first quarter worth $25,409,000. Finally, Invesco Ltd. lifted its stake in Louisiana-Pacific by 103.2% in the first quarter. Invesco Ltd. now owns 527,801 shares of the building manufacturing company's stock worth $48,547,000 after purchasing an additional 268,053 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LPX. Truist Financial decreased their target price 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. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, DA Davidson decreased 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 report on Wednesday, June 25th. Four equities 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $106.13.

Louisiana-Pacific Trading Up 2.3%

NYSE:LPX opened at $98.97 on Friday. The company has a 50-day moving average price of $92.81 and a 200-day moving average price of $91.33. 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 stock has a market cap of $6.89 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 2.21 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, topping the consensus estimate 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 last year, the company posted $2.09 EPS. The company's quarterly revenue was down 7.2% compared to the same quarter last year. Equities analysts predict that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.28 dividend. 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 (DPR) is currently 26.42%.

Insider Activity

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

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.

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