Palestra Capital Management LLC Grows Stock Holdings in Louisiana-Pacific Corporation $LPX

Key Points

• Palestra Capital Management LLC increased its holdings in Louisiana-Pacific Corporation by 173.5% in the first quarter, acquiring an additional 578,248 shares, which now represents 3.3% of their investment portfolio.
• Louisiana-Pacific Corporation reported a quarterly earnings per share (EPS) of $0.99, exceeding analysts' expectations of $0.97, despite a 7.2% decline in revenue compared to the previous year.
• The company has announced a quarterly dividend of $0.28, yielding approximately 1.1%, with a payout ratio of 26.42%.

Palestra Capital Management LLC raised its holdings in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 173.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 911,621 shares of the building manufacturing company's stock after purchasing an additional 578,248 shares during the quarter. Louisiana-Pacific accounts for approximately 3.3% of Palestra Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Palestra Capital Management LLC owned about 1.31% of Louisiana-Pacific worth $83,851,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. CWM LLC grew its stake in Louisiana-Pacific by 4.1% in the first quarter. CWM LLC now owns 2,919 shares of the building manufacturing company's stock valued at $268,000 after acquiring an additional 115 shares during the period. Xponance Inc. lifted its stake in shares of Louisiana-Pacific by 1.1% in the first quarter. Xponance Inc. now owns 11,370 shares of the building manufacturing company's stock valued at $1,046,000 after buying an additional 127 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Louisiana-Pacific by 3.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 4,658 shares of the building manufacturing company's stock valued at $425,000 after buying an additional 140 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Louisiana-Pacific by 2.2% during the first quarter. Advisors Asset Management Inc. now owns 7,962 shares of the building manufacturing company's stock worth $732,000 after acquiring an additional 170 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC lifted its position 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 valued at $234,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Louisiana-Pacific Stock Performance

LPX stock traded up $2.43 during mid-day trading on Thursday, hitting $97.84. The company had a trading volume of 480,697 shares, compared to its average volume of 749,145. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. The firm has a market cap of $6.81 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.84. Louisiana-Pacific Corporation has a 12 month low of $78.82 and a 12 month high of $122.87. The stock's fifty day moving average price is $93.22 and its two-hundred day moving average price is $91.33.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its quarterly 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. 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 during the quarter, compared to analyst estimates of $751.15 million. During the same quarter last year, the business posted $2.09 EPS. Louisiana-Pacific's quarterly revenue was down 7.2% compared to the same quarter last year. On average, analysts forecast that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company 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 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Several analysts have recently commented on LPX shares. Wall Street Zen downgraded Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. DA Davidson dropped their price objective on 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, Truist Financial reduced 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. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $106.13.

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 dated 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 approximately $3,002,528. This trade represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.42% of the company's stock.

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.