Nuveen LLC Buys Shares of 276,250 Louisiana-Pacific Corporation $LPX

Nuveen LLC bought a new stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 276,250 shares of the building manufacturing company's stock, valued at approximately $25,409,000. Nuveen LLC owned about 0.40% of Louisiana-Pacific at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Louisiana-Pacific by 5.1% in the fourth quarter. Wells Fargo & Company MN now owns 54,396 shares of the building manufacturing company's stock worth $5,633,000 after purchasing an additional 2,633 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Louisiana-Pacific in the fourth quarter worth $3,020,000. Townsquare Capital LLC increased its stake in shares of Louisiana-Pacific by 15.5% in the fourth quarter. Townsquare Capital LLC now owns 5,844 shares of the building manufacturing company's stock worth $605,000 after purchasing an additional 786 shares in the last quarter. Barclays PLC increased its stake in shares of Louisiana-Pacific by 129.9% in the fourth quarter. Barclays PLC now owns 82,980 shares of the building manufacturing company's stock worth $8,594,000 after purchasing an additional 46,891 shares in the last quarter. Finally, Mariner LLC increased its stake in shares of Louisiana-Pacific by 9.3% in the fourth quarter. Mariner LLC now owns 8,339 shares of the building manufacturing company's stock worth $864,000 after purchasing an additional 708 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LPX. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Truist Financial cut their target price on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, July 11th. DA Davidson cut their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Royal Bank Of Canada raised their target price 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. Finally, Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Louisiana-Pacific currently has an average rating of "Hold" and a consensus target price of $106.13.

Insider Activity

In related news, Director Lizanne C. Gottung sold 1,179 shares of the firm'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 owned 18,838 shares of the company's stock, valued at $1,686,377.76. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ozey K. Horton, Jr. sold 500 shares of the firm's 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 completion of the transaction, 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. Company insiders own 1.42% of the company's stock.

Louisiana-Pacific Trading Down 5.7%

Shares of Louisiana-Pacific stock traded down $5.5750 during trading on Wednesday, hitting $92.9250. The stock had a trading volume of 1,072,262 shares, compared to its average volume of 741,299. The firm's fifty day simple moving average is $90.71 and its 200-day simple moving average is $92.94. The stock has a market cap of $6.47 billion, a PE ratio of 21.92, a PEG ratio of 2.17 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. Louisiana-Pacific Corporation has a 12 month low of $78.82 and a 12 month high of $122.87.

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 the consensus estimate of $0.97 by $0.02. The firm had revenue of $755.00 million during 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 business's revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $2.09 EPS. As a group, sell-side analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 15th. Louisiana-Pacific's dividend payout ratio (DPR) 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.